Revival of fortunes seen for Sun Pharma

Gains seen from transfer of products to Mohali plant

The Sun Pharma stock has tested investors’ patience by underperforming the broader indices for a long period. Even recently, after disappointment with December quarter performance, it had slipped to Rs 622.5 levels. However, things seem to be turning around for the company, part of which is also reflecting in the stock’s recovery to Rs 707.25 now. Large part of this 14 per cent rally has been fuelled by the clearance of Mohali plant by the US Food and Drug Administration (FDA).
 
For one, the Mohali plant had been under import alert since September 2013. While this suggests that drug