Sun Pharma shares gain 4% after declining 7% in past three days

The stock has moved higher by 4% to Rs 655, bouncing back 6% from its early morning low of Rs 620 on the BSE on Wednesday.

Shares of Sun Pharmaceutical Industries have moved higher by 4% to Rs 655 per share, bouncing back 6% from their early morning low of Rs 620 per share on the BSE on Wednesday.

The stock of drug firm has fallen 7% in past three trading days till Tuesday, on reports that company received six observations by US Food and Drug Administration (FDA) for Halol unit and inspection of the company’s Mohali facility. The stock hit a 52-week high of Rs 679 on September 9, 2018, in intra-day trade.

“The US FDA conducted a Pre-Approval Inspection (PAI) of Sun Pharmaceutical