Sun Pharma slumps in early trade

Reuters MUMBAI | Updated on January 24, 2018

Shares in Sun Pharmaceutical Industries slumped as much as 16 per cent, heading towards their biggest daily fall ever, after the drugmaker on Monday said it sees 2016 sales flat at best.

Analysts say results warning can cut FY16 consensus earnings estimates by 8-10 per cent as company struggles to fix manufacturing problems at Ranbaxy Laboratories, which it bought last year.

At 9.30 am, the Sun Pharma pared its losses a bit, but still trading down 13.5 per cent or Rs 128 at Rs 820 on the NSE.

Published on July 21, 2015

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