Sun Pharma is the biggest loser on the Nifty as it missed estimates. Also, the management gave a very conservative guidance of 8-10 percent growth in consolidated sales for FY17. A bullish SP Tulsian of sptulsian.com gave a support price of Rs 700.
In an interview to CNBC-TV18, Surya Narayan Patra of PhillipCapital shared his readings and outlook on Sun Pharmaceutical Industries and also spoke about the warning letter which the company has received from USFDA.
Surya Narayan Patra of Phillip Capital says that it would take minimum one year for Dr. Reddy‘s Laboratories to resolve this issue.
Surya Narayan Patra of Phillipcapital says the news on Elepsia is more relevant to Sun Pharma. The product was linked to one of the facilities linked to USFDA issues
Biocon plans to list its research arm Syngene and on Wednesday filed prospectus with the market regulator Sebi. It aims to raise around Rs 600 crore.