Sun Pharma had last week asked India's capital markets regulator to look into a media report about an alleged complaint by a whistleblower
Here's a look at what technical charts indicate for the two buzzing stocks - L&T and Sun Pharma -
The stock recovered 8% from Friday's low after the Sun Pharma urged the markets regulator to examine the role of some media houses with regard to the allegations raised by the whistle-blower.
Pharma company's valuations have been hit by several issues resulting in the promoter losing nearly Rs 90,000 cr
Sun Pharma on Friday urged the markets regulator to examine the role of some media houses with regard to the allegations raised by the whistle-blower
Shares of Sun Pharma plummeted over 8 per cent that wiped out Rs 8,735 crore from its market valuation
According to a news report by financial news website Moneylife, huge transactions took place between Aditya Medisales and private Companies of Sun Pharma's promoters between 2014 and 2017
Pola Pharma's portfolio mainly comprises dermatology products. It has two manufacturing facilities in Saitama with capabilities to manufacture topical products and injectables
On a year-to-date (YTD) basis, Sun Pharma stock has underperformed the Nifty Pharma index by declining around 28 per cent.
Earlier this year, DUSA, which is wholly-owned by Sun Pharma, filed a lawsuit against the Biofrontera defendants in the US District Court for the District of Massachusetts
A whistleblower had last month approached Sebi with a document alleging various irregularities by the company, its promoter Dilip Shanghvi and others
His real estate transactions in the last couple of years further bought him into the spotlight
Shares plunge to a five-year low
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.
Firm's response to governance allegations inadequate
MFs take exposure to realty arm; guarantee by investment entity gives top rating
Brokerages seem concerned over the whistleblower case and domestic super-stockist distribution structure
The stock is down 3% at Rs 442 on Tuesday, extending its 7.5% fall on Monday on the BSE.
Since November 26, Sun Pharma has lost Rs 133 billion in market capitalisation
Investors also raised questions around loans given to 'employees and others' by the company