Sun Pharma Tanks 9% As Daiichi Sells Stake In The Company

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, April 21, 2015, 12:23 [IST]

Shares in Sun Pharma fell a huge 10 per cent in trade as Daiichi sold its stake in the company through block deals.

The Sun Pharma stock was last trading at Rs 950, down 11 per cent in trade. The stock had a previous closing of Rs 143.

Daiichi Sankyo had picked-up a stake in Ranbaxy from the Singh family in 2008. Subsequently, Sun Pharma tookover Ranbaxy Laboratories.

However, Daiichi Sanko continued to hold stake in the company which has now been sold through a block deal on the exchanges.

It is reported that Sun Pharma promoter, Dilip Shanghavi may have picked-up the Daiichi stake.

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