India's Sun Pharma rises; report says regulator clears co of fraud claims

Sun Pharma Advanced Research

29/08/2019 05:45

** Shares of generic drugmaker Sun Pharmaceutical Industries
Ltd  SUN.NS  rise as much as 4.5%, while co's medical research
unit, Sun Pharma Advanced Research Co  SPRC.NS , jumps 10.8%,
its best intraday gain in 6 weeks
    ** Financial daily Business Standard reports India's market
regulator finds "no merit" in securities fraud allegation
against co by whistleblower  urn:newsml:reuters.com:*:nL3N25P0XZ
    ** "Investigation team is of the view that the matter does
not require further probe," the newspaper reports
    ** About 6.4 mln shares change hands, vs. the 30-day average
of 6.6 mln
    ** The Nifty Pharma index  .NIPHARM  up 0.4%, while the
broader market  .NSEI  down 0.4%
    ** Sun Pharma Shares down 4% this year as of last close

 (Reporting by Derek Francis in Bengaluru)
 ((derek.francis@thomsonreuters.com; +91-9986311363; Tweet to
@derekfrancis089 LinkedIn: https://www.linkedin.com/in/derek-francis/;))