ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • ZNAA'22
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Whopping 1 lakh jobs on the cards in aviation and aeronautical manufacturing sector by 2024, says Minister
  • Money Guru: 10 funds for financial independence, this 15th August - details
  • India's forex reserves jump 60x since 1990s, surge 335 times since Independence | Check this data
  • India@100: Anil Singhvi predicts Nifty will reach 1,75,000 in next 25 years - Here's why
Read in App
Business News » India News

Sun Pharma shares tumble 13% on report of fresh allegations by whistleblower

The whistleblower complaint alleges that an Indian pharmaceutical manufacturer Aditya Medisales Ltd had transactions with Suraksha Realty, controlled by Sun Pharma`s co-promoter, Sudhir Valia, the report stated. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Sun Pharma shares tumble 13% on report of fresh allegations by whistleblower
Shares of India`s Sun Pharmaceutical Industries Ltd slumped over 13 percent on Friday, Image source: Reuters

Shares of India`s Sun Pharmaceutical Industries Ltd slumped over 13 percent on Friday to near six-year low, after a media report of a complaint by a whistleblower raised fresh concerns on the drugmaker`s corporate governance.

The complaint, sent to the capital market regulator Securities and Exchange Board of India (SEBI), is the second in over a month, according to the report by Moneylife magazine. 

The whistleblower complaint alleges that an Indian pharmaceutical manufacturer Aditya Medisales Ltd had transactions with Suraksha Realty, controlled by Sun Pharma`s co-promoter, Sudhir Valia, the report stated. 

The transactions took place between 2014 and 2017, and were worth over 58 billion rupees ($814.65 million), it added. 

A whistleblower had approached SEBI late last year with a document alleging various irregularities by Sun Pharma, its promoter Dilip Shanghvi and others.

Sun Pharma did not immediately respond to a Reuters request seeking comment.

Shares of the country`s largest drugmaker by market value recorded their biggest intra-day percentage drop since May 29, 2017.

Over 31.4 million shares changed hands as of 0453 GMT, around 2.7 times Sun`s 30-day trading volume average of 11.7 million shares.

Earlier this month, Sun Pharma had recalled muscle relaxtant vecuronium bromide for injection due to the presence of glass.
($1 = 71.1960 Indian rupees)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Sun PharmaBSE SensexNifty 50Indian market
Written By: Reuters
Updated: Fri, Jan 18, 2019
11:51 am
Reuters
RELATED NEWS
Pharma stocks in focus: Cipla, Zydus Wellness, Torrent Pharma surge up to 5% after healthy Q1 results – brokerages recommend this Pharma stocks in focus: Cipla, Zydus Wellness, Torrent Pharma surge up to 5% after healthy Q1 results – brokerages recommend this
LIC reduces 2% stake in Sun Pharma; sells shares worth Rs 3,821cr in over 1 year LIC reduces 2% stake in Sun Pharma; sells shares worth Rs 3,821cr in over 1 year
Sun Pharma to expand field force in India by 10% in FY23 to drive brand focus and geographical expansion Sun Pharma to expand field force in India by 10% in FY23 to drive brand focus and geographical expansion
Global View: Sun Pharma, Jubilant FoodWorks, Cummins India and Prestige Estates can give 12-54% return Global View: Sun Pharma, Jubilant FoodWorks, Cummins India and Prestige Estates can give 12-54% return
Sun Pharma recalls over 10,000 bottles of generic anti-depression drug in US amid customer complaint Sun Pharma recalls over 10,000 bottles of generic anti-depression drug in US amid customer complaint

LATEST NEWS

Twitter outage: Micro-blogging platform hit by technical snag; company says 'fixed it'

Anil Singhvi's strategy on Aug 10: Support zone on Nifty is 17400-17475, Bank Nifty is 37975-38050

Asian shares slip ahead of crucial US inflation data

Burger King's shocker to its customers: Company sending blank order email receipt, but why?

International travellers ALERT! Airlines asked to share passengers' information flying abroad - Check latest rule

Snapchat layoff: Company plans to cut jobs after poor Q2 result

Money Guru: 10 funds for financial independence, this 15th August - details

Kharif 2022: Paddy area down 13% so far due to deficient rains in West Bengal, Jharkhand, Bihar and Chhattisgarh

India's forex reserves jump 60x since 1990s, surge 335 times since Independence | Check this data

Meta-owned WhatsApp is rolling out this feature - PRIVACY!

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV