/ Sun Pharma Shares Trade Weak Owing To USFDA’s Observations ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 21 April 2017

Sun Pharmaceuticals Limited is trading weak in the Friday’s trading session. The stock witnessed addition in its open interest by around 6%. Its share price is declined by 1.8% at Rs 644.1 per share. The stock is witnessing short built up position.

The total traded volume of the stock on NSE stands at 32,05,812 share and traded value stands at Rs 206.4 Cr. In past few trading sessions, the stock’s percentage deliverable quantity to traded quantity have been around 50% which may indicate that the investors wish to hold the shares for long term.

It has now become the trend that the pharma company stocks move on the exchanges with respect to USFDA’s inspections or observations. The Sun Pharma stock not an exception to this. The recent USFDA’s observations regarding the company’s Dadra plant has brought forth an incomplete lab report that further invited the wrath of US pharma regulator, said a leading news portal. 

These observations include failure to produce appropriate master or control record for each batch of drugs and failure to properly investigate batches that do not meet specifications. Inspection of the plant by USFDA was concluded in the first week of April.

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