Shares in Sun Pharma fell a huge 10 per cent after its Q4 numbers for the year ending March 31, 2015 disappointed the markets. Sun Pharma has been one of the top Sensex gainers in Narendra Modi's one year as Prime Minister as investors were hopeful that the merger with Ranbaxy would boost synergies and hence earnings.
However, the consolidated net profits of Sun Pharma which came in at Rs 888.05 crore for the fourth quarter ended 31 March 2015 was a huge disappointment.
The company had posted a net profit of Rs 1,587.12 crore for the same period of the previous fiscal. The stock was last trading at Rs 974 on the National Stock Exchange, down 9.5 per cent. Almost one week back the stock had closed above the Rs 1000 levels. Dealers say there maybe more downside risk to the stock given its huge out performance in the last one year.
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