The share price of Sun Pharmaceutical Industries jumped more than 3 percent to scale a fresh 52-week peak on Monday, after the drug maker's revenue in the June quarter beat analysts' estimates.

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On the BSE, Sun Pharma shares jumped as much as 3.31 percent to a 52-week high of Rs 799.60 apiece before trimming those gains.

At 11:31 am, the Sun Pharma stock traded 0.43 percent higher at Rs 777.35 apiece on the BSE, against a 0.69 percent gain in the Sensex.

On the NSE, Sun Pharma shares were up 0.39 percent at Rs 777.00 apiece.

The company reported a net profit of Rs 1,444.17 crore over a topline of Rs 9,669.43 crore for the April-June period. Its EBITDA came in at Rs 2,771.8 crore in Q1 while the EBITDA margin was at 28.7 percent.

Analysts in a CNBC-TV18 poll had estimated the company's net profit in the quarter at Rs 1,567.6 crore over revenue of Rs 8,789.9 crore. They had expected its EBITDA at Rs 2,219.8 crore and margin at 25.3 percent.

Most analysts maintained their bullish calls on Sun Pharma, with the stock remaining the top pick for JPMorgan and Citi.

Here's what brokerages say:

Citi

The brokerage has a 'buy' call on Sun Pharma with a target price of Rs 910 apiece, and raised its FY22, FY23 and FY24 EPS estimates by 7-10 percent. The stock remains Citi's top pharma pick in India.

According to the brokerage, the company's specialty business is picking up and has the potential to drive operating leverage. The contribution of its generics business is at historic lows. However, its generics business pipeline has the potential to surprise positively.

CLSA

The brokerage has a 'buy' rating on the stock with a raised target price of Rs 960 apiece. The company's specialty ramp-up is on track. Sun Pharma is well placed to boost its specialty sales and achieve EBITDA break-even in FY23.

JPMorgan

The brokerage has an 'overweight' call on Sun Pharma with a target price of Rs 850 apiece. The company' specialty momentum is better than expectation and growth in the segment is likely to continue. Operating costs and R&D are expected to increase to support the specialty effort, said JPMorgan, which has Sun Pharma as its top pick in the sector.

Morgan Stanley

The brokerage has an 'overweight' call on Sun Pharma with a revised target of Rs 895 apiece. Its positive stance is driven by the company's steady earnings growth.

Credit Suisse

The brokerage has an 'underperform' rating on the stock with a target price of Rs 640 apiece. The company's Q1 performance was boosted by COVID, and moderation is expected in the Ilumya ramp-up in H2, Credit Suisse said. The brokerage has raised its FY22, FY23 and FY24 EPS estimates by 19 percent, 11 percent and 13 percent respectively.