Sun Pharma slips 8% as Sebi starts probe; may reopen insider trading case

The stock settled 8% lower at Rs 455 on the BSE on reports that the market regulator Sebi has initiated an inquiry into the affairs of pharma major on the basis of a whistle-blower complaint.

Shares of Sun Pharmaceutical Industries ended 8% lower at Rs 455 on the BSE on reports that the market regulator, the Securities and Exchange Board of India (Sebi), has initiated an inquiry into the affairs of pharma major on the basis of a whistle-blower complaint.

The stock of drug firm dipped 10% to Rs 442 in early morning trade. The trading volumes on the counter jumped four-fold with a combined 66.3 million equity shares changed hands on the BSE and NSE today.

“The market regulator was in receipt of a 150-page letter in which the whistle-blower accused the company