Sun Pharma plunges 9% on news Sebi may reopen insider trading case

Shares of Sun Pharma plunged 9 per cent in early trade on Monday on reports that markets regulator Sebi is likely to reopen an insider trading case against the company as well as probe alleged lapses by some of its promoters and other entities in raising funds overseas.

"The development comes after a whistleblower reportedly approached Sebi with a document alleging various irregularities by the company, its promoter Dilip Shanghvi and others," a PTI report added.

Also, the drug maker will hold a conference call with its investors at 6.30 pm today.


The scrip was trading 9.08 per cent down at Rs 447.60 at around 09.37 am, while the benchmark BSE Sensex was up 0.48 per cent at 36,367.98.

Meanwhile, the shares of Sun Pharma opened at Rs 467 on BSE against its previous closing of Rs 492.30.