/ Sun Pharmaceuticals Dips 8% After Taro Posts Weak Quarterly Earnings ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 23 May 2017

Sun Pharmaceuticals Industries Ltd on Tuesday declined around 8% in the morning session after its overseas arm Taro Pharmaceuticals Industries Ltd reported weak earnings in the March quarter, reported a national news portal.

Taro Pharmaceutical Industries (Taro) reported a 27.82% fall in net profit to $83 million. It also posted a 25.9% decrease in net sales to $196.40 million in the quarter ended March 2017. The drop in net sales was on account of increased competition and the challenging pricing environment, reported a national news portal.

Sun Pharmaceuticals is down by 5.4% at Rs 605 per share at 12:38 hours IST on BSE. It witnessed a spurt in the volume by more than 3.51 times. It hit a high of Rs 631 and a low of Rs 589.20 so far during the day.

Sun Pharmaceutical Industries Limited is a pharmaceuticals company. The company's business segments include US business, Indian branded generics business, emerging markets, global consumer healthcare business and active pharmaceutical ingredients (API).

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