Sun Pharma gets an unhealthy palor

Following closely on the heels of Infosys, the second top loser of the day is Sun Pharma, which is presently down 4% at Rs.579, with an intra day low at Rs.565.Its 52-week low stands at Rs.405.

The stock is down after the company received an import alert from US FDA for all its products made at its its Karkhadi unit, where it makes all its APL and formulations. The company is yet to respond to this alert but many brokerage houses have already said that this could impact the company’s EPS in FY15.

The market is extremely worried with this development as it feels this is the way in which things started going wrong for Ranbaxy, wherein it initially got an import alert at one of its plant after which its snowballed into all its facilities.