Sun Pharma hits lowest level since April 2013; falls 33% from 52-week high

The stock hit an over five-year low of Rs 433, down 2%, falling 12% in three days, even though the company made a clarification related to corporate governance and whistleblower issues.

Shares of Sun Pharmaceutical Industries continued to be under pressure, hitting an over five-year low of Rs 433 per share, down 2%.

The stock has fallen 12% in three days, even though the company made a clarification related to corporate governance and whistleblower issues.

Brokerages are concerned about an increase in unsecured loans and advances to employees, domestic super-stockist distribution structure, as well as lack of clarity on a whistle-blower case.

The stock was trading at its lowest level since April 15, 2013. In the past three months, it underperformed the market by falling 36% from Rs 677