Sun Pharma shares rise 2 pc as co seeks Sebi intervention in unfair biz practices

Shares of Sun Pharmaceutical Industries surged 2 per cent on Monday as it sought Sebi's intervention in the issue of alleged unfair business practices against the company.

This was the first uptick in the counter after two successive sessions of beating, wherein the stock lost as much as 13.80 per cent.

On BSE, the stock gained 1.94 per cent to close at Rs 398.35. Intra-day it surged 3.99 per cent to Rs 406.35.

At the National Stock Exchange (NSE), stock of the company climbed 2 per cent to settle at Rs 398.55. During the day, it advanced by 4.04 per cent to Rs 406.55.

Against the backdrop of reports that a second whistleblower complaint has been filed against it and shares taking a beating on the exchanges, Sun Pharma has written to Sebi flagging concerns that certain entities are allegedly adopting unfair trade practices.

In a letter to Sebi Chairman Ajay Tyagi, the Mumbai-based drug maker said it has come to know from a media report that a second whistleblower complaint has been ...