May
30
Sun Pharma Falls Most in Two Months After Profit Misses Views
BySun Pharmaceutical Industries Ltd., India’s largest drugmaker, fell the most in two months after reporting fourth-quarter earnings that missed analyst estimates amid higher investments and regulatory pressures.
The stock fell as much as 4.6 percent to 775 rupees, the biggest drop since March 29 on an intra-day basis. It traded 3.5 percent lower at 784.05 rupees at 9:24 a.m. in Mumbai trading.
Net income rose about 93 percent to 17.1 billion rupees ($255 million) from 8.9 billion rupees a year earlier. That compares with an average estimate of 19.1 billion rupees according to 19 analysts surveyed by Bloomberg…
Sun Pharma Falls Most in Two Months After Profit Misses Views
