ICICI Bank fell more than 3 percent, Sun Pharma plunged more than 6 percent, and Future Retail was up 20 percent.
"DUSA fully cooperated with DOJ in its investigation of a complaint filed by a former employee in September 2016,” Sun Pharmaceutical Industries said in a regulatory filing.
KRChoksey is bullish on Sun Pharma has recommended buy rating on the stock with a target price of Rs 619 in its research report dated August 07, 2020.
Emkay Global Financial recommended hold rating on Sun Pharma with a target price of Rs 542 in its research report dated July 31, 2020.
Motilal Oswal is bullish on Sun Pharma recommended buy rating on the stock with a target price of Rs 625 in its research report dated August 01, 2020.
What adds to the Sun Pharma's investment case is the prospect for US specialty. The management hopes to achieve EBITDA break-even for a few products next fiscal
Global brokerage firm Phillip Capital expects Sun Pharma's sales to remain muted due to the high base of last year and underperformance in domestic business because of COVID.
The wholly-owned subsidiary has received approval from Japan's Ministry of Health, Labour and Welfare for Ilumya (tildrakizumab) for the treatment of plaque psoriasis in adult patients who have an inadequate response to conventional therapies, Sun Pharmaceutical Industries said in filing to BSE.
One of the company's wholly-owned subsidiaries and Hikma Pharmaceuticals have entered into the agreement for Ilumya, Sun Pharma said in a filing to BSE.
CLSA is of the view that Sun Pharma's EBITDA contribution of specialty is likely to rise to 15 percent from nil by FY22 while specialty business in US comprising of nine products is at an inflexion point.
Motilal Oswal is bullish on Sun Pharma has recommended buy rating on the stock with a target price of Rs 525 in its research report dated May 27, 2020.
Local drug companies should address some of the longer term issues concerning the industry such as quality and good manufacturing practices
"The company is committed to working closely with the governments and relevant stakeholders to ensure that there is uninterrupted supply of medicines," Sun Pharma said in a statement.
In a regulatory filing the company said that the board of directors of the company, at its meeting held on Tuesday has approved the buy-back of its equity shares from the open market at a maximum price of Rs 425 per share for an aggregate maximum amount of up to Rs 1,700 crore.
The stock was trading with volumes of 654,539 shares, compared to its five-day average of 422,811 shares, an increase of 54.81 percent.
The company declared an interim dividend of Rs 3 per share for FY20
Trends on SGX Nifty indicate a flat opening for the broader index in India, with a 5-point loss or 0.04 percent
Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 16.9 percent to Rs 1,790 crore in Q2FY20, while margin remained flat at 22 percent YoY.
This comes after AstraZeneca said it was launching a new fund with China International Capital Corp to invest $1 billion in China's healthcare sector, as it expands its research work in the country.