Sun Pharma shares tank 16% as co sees profit hit in FY16

Shares of Sun Pharma witnessed massive selling pressure today, plunging over 16 per cent, after the drug major said it expects to take a hit on profit for the fiscal due to charges related to the ongoing integration with Ranbaxy Laboratories.
Reacting to this, shares of the company opened the day on a weak note and lost further to 15.6 per cent to Rs 799.05 at BSE.
On the NSE, the stock dipped 16.11 per cent to Rs 795.25.
The stock was the top loser among the stocks on key indices Sensex and Nifty.