Sun Pharma falls despite earnings being in line with estimates

Sun Pharmaceutical Industries fell 0.6 per cent despite good September-quarter earnings. Sun's Q2 profit rose by 15 per cent to Rs 15.72 billion.

Profit were in line with estimates despite hopes of a better show after unit Taro Pharmaceutical Industries reported higher earnings earlier, traders said.

Taro's quarterly profit grew by 49 per cent to a record level of $143 mln. Profit-taking was also seen as the Sun Pharma stock hit a record high of Rs 932.50 earlier this week.

At 10:01 a.m., the stock was trading Rs 900.5, down 0.56 per cent on the BSE.