Sun Pharma tumbles as Taro reports weak Q4 earnings

Shares of Sun Pharmaceutical Industries Limited slumped 7.11% to Rs 594.70 at the late morning hours on BSE after the company's U S subsidiary Taro Pharmaceutical Industries Ltd announced weak Q4 results on Monday, 22 May 2017.

On BSE counter, 6.77 lakh shares have been traded at the time, as against the ADV (average daily volumes) of 3.52 lakh shares in the past one quarter. The stock had hit a high and low of Rs 631 and Rs 589.20 during the day.

Stock of Sun Pharma had had under-performed the market over the past one month till 22 May 2017, rising 0.03 percent compared with the Sensex's 4.11 percent rise. The scrip had further under-performed the market over the past one quarter, falling 4.5 percent as against the Sensex’s 5.91 percent rise.

On a consolidated basis, Sun Pharma’s net profit declined 11.2 percent to Rs 1721.85 crore on 8.4 percent rise in net sales to Rs 7,683.24 Cr, in Q3 FY16 over y-o- y.

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