Sun Pharma share price: Why did stocks of India's top pharmaceutical firm crash?
India Today
Shares of Sun Pharma were the top losers in the Nifty 50 index after the company logged a loss for the March quarter.
Sun Pharmaceutical's share price fell on Tuesday after India's biggest pharmaceutical company logged a consolidated net loss. The Sensex and Nifty also plunged ahead of key economic data.
The Sensex was down by 0.35 per cent or 193.94 points at 55,731.80 and the Nifty fell 0.26 per cent or 43.95 points at 16,617.45.
Meanwhile, shares of Sun Pharma were the top losers in the Nifty 50 index after the company logged a loss for the March quarter, according to Reuters.
Sun Pharma's share price on BSE was Rs 860.30, down by 3.05 per cent or 27.10 points. On the NSE, Sun Pharma's share price fell by 3.08 per cent or 27.35 points to Rs 860.95.
Sun Pharma recorded a March quarter consol net loss after tax 22.77 billion rupees versus profit of 8.94 billion rupees year ago. The pharma company also registered March-quarter consol total revenue from operations 94.47 billion rupees versus 85.23 billion rupees year ago, according to Reuters report.
The board of Sun Pharma has proposed a final dividend of Rs 3 per share for the financial year 2021-22. This was in addition to the interim dividend of Rs 7 per share paid in FY22, taking the total dividend for FY22 to Rs 10 per share compared to Rs 7.5 per share for FY21, the company said in a statement.
(Inputs from Ashish Pandey)
