Sun Pharma moves Sebi as stock dips on fresh whistle-blower allegations

Sun Pharma on Friday urged the markets regulator to examine the role of some media houses with regard to the allegations raised by the whistle-blower

The shares of Sun Pharmaceutical Industries plunged 8.52 per cent to a six-year low on Friday, wiping out Rs 8,735 crore from its market valuation amid reports of a new whistle-blower complaint against the country's largest drugmaker.

The stock, which dived more than 12 per cent in intra-day trade under massive selling pressure, ended the day at Rs 390.75 on the BSE, with the firm’s market capitalisation settling at Rs 93,751.44 crore. The stock has corrected 25 per cent since the news of a whistle-blower complaint to the Securities and Exchange Board of India (Sebi) surfaced in November. In the