Sun Pharma shares face turbulent times: Here is how its troubles began

Since November 26, Sun Pharma has lost Rs 133 billion in market capitalisation

Sun Pharma
FILE PHOTO: A bird flies past the logo of Sun Pharma installed on the facade of its corporate office in Mumbai | Photo: Reuters

Sun Pharmaceutical Industries, India’s largest drugmaker by sales, on Monday had the biggest single-day fall in the past 18 months and seems to be trying hard to allay investor concerns, but more trouble seems to be brewing for the leader in the Indian pharmaceutical industry. How did it all begin? On December 1, the Securities and Exchange Board of India (Sebi) initiated an inquiry into the affairs of Sun Pharma and reopened insider trading case on the basis of a whistle-blower complaint submitted in September. The 150-page letter accused the company of committing corporate ...