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A whistleblower alleges Sun Pharma for various irregularities


Shares of Sun Pharma came under massive selling on Friday, tumbling over 13 per cent, amid reports of fresh allegations by a whistleblower against the company. The scrip after a weak opening further tumbled 12.11 per cent to hit a multi-year low of Rs 375.40 on BSE. At NSE, shares of the company plummeted 13.21 per cent to hit a low of Rs 370.20.

The stock was the worst hit among the blue chips on both the key indices during the morning trading session. In terms of equity volume, 38.20 lakh shares of the company were traded on BSE and over 4 crore shares changed hands at NSE during the day.

According to reports, the complaint, sent to the capital market regulator SEBI, is the second in over a month. Meanwhile, the BSE has sought clarification from Sun Pharmaceutical Industries on January 18, 2019, with reference to news that Sun Pharma plummets over buzz of fresh whistleblower complaint.

A whistleblower had in November last year approached Sebi with a document alleging various irregularities by the company, its promoter and others.


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