The stock has crashed over 10 percent on the back of heavy volume.
Sun Pharma has slumped over 10.5 percent to a low of Rs. 933 on the back of heavy volume on reports of Daiichi exiting its 9 percent stake in the company.
According to media reports, Japanese firm Daiichi Sankyo will be selling its 9 percent holding in Sun Pharma, which it had acquired following the Ranbaxy-Sun Pharma merger block deals today.
The estimated value for the 9 percent stake is said to be around Rs. 18,000 crore.
Sun Pharma is now down 10.3 percent at Rs. 937. The counter has seen huge volume of around 5.93 million shares as against the two-week daily average volume of around 253,000 shares on the BSE. Similarly, over 23.7 million shares have been traded on the NSE counter.
Meanwhile, the Sensex has slipped 23 points to 27,863.
According to media reports, Japanese firm Daiichi Sankyo will be selling its 9 percent holding in Sun Pharma, which it had acquired following the Ranbaxy-Sun Pharma merger block deals today.
The estimated value for the 9 percent stake is said to be around Rs. 18,000 crore.
Sun Pharma is now down 10.3 percent at Rs. 937. The counter has seen huge volume of around 5.93 million shares as against the two-week daily average volume of around 253,000 shares on the BSE. Similarly, over 23.7 million shares have been traded on the NSE counter.
Meanwhile, the Sensex has slipped 23 points to 27,863.
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