 "Sun Pharmaceutical hits 16-month low")
Shares of Sun Pharma have dipped nearly 2% at Rs 714, its lowest level since July 2014, on the BSE in intra-day trade today.
According to media reports, US-based Taro Pharmaceutical Industries, subsidiary of Sun Pharmaceuticals here, and other group affiliates are investing in a $225-million wind energy project in America. CLICK HERE TO READ FULL REPORT.
Meanwhile, in past three trading sessions, the pharma stock has declined 5.3% from Rs 754 on November 18, as compared to 1.4% rise in the S&P BSE Sensex.
"On November 20, 2015, Sudhir Valia – person acting in concert - have pledged an additional 2.4 million or 0.10% of his total holding in the company to Kotak Mahindra Investments as security for loan against share," Sun Pharma said in a statement.
"Earlier, on November 16, Sudhir Valia had pledged 4.1 million shares representing 0.17% of his holding in the company to IDBI Trusteeship Services to top up the security cover additional shares were pledged," it added.
At 01:16 PM, the stock was down 1% at Rs 719 on the BSE.
According to media reports, US-based Taro Pharmaceutical Industries, subsidiary of Sun Pharmaceuticals here, and other group affiliates are investing in a $225-million wind energy project in America. CLICK HERE TO READ FULL REPORT.
Meanwhile, in past three trading sessions, the pharma stock has declined 5.3% from Rs 754 on November 18, as compared to 1.4% rise in the S&P BSE Sensex.
"On November 20, 2015, Sudhir Valia – person acting in concert - have pledged an additional 2.4 million or 0.10% of his total holding in the company to Kotak Mahindra Investments as security for loan against share," Sun Pharma said in a statement.
"Earlier, on November 16, Sudhir Valia had pledged 4.1 million shares representing 0.17% of his holding in the company to IDBI Trusteeship Services to top up the security cover additional shares were pledged," it added.
At 01:16 PM, the stock was down 1% at Rs 719 on the BSE.
