{
  "id": 17771844,
  "title": "Sun Pharma slides nearly 2% as Ilumya concerns weigh on analyst estimates",
  "url": "https://urgent.news/2026/11/02/sun-pharma-slides-nearly-2-as-ilumya-concerns-weigh-on-analyst",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T08:36:06.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/stock-markets/sun-pharma-slides-nearly-2-as-ilumya-concerns-weigh-on-analyst-estimates/article71655888.ece"
  },
  "original_language": "en",
  "account": "Sun Pharmaceutical Industries shares experienced a significant decline of 1.81 percent on Monday, dropping to ₹1,745.60 on the NSE. This decrease came in the wake of the company's Q2FY27 results announced on Friday, which revealed a slowdown in its key US specialty drug Ilumya and a significant ₹12.7 billion exceptional charge, both of which dampened investor sentiment. Throughout the trading session, the stock witnessed an unprecedented volume of over 23 lakh shares valued at ₹407 crore, surpassing its 52-week high of ₹2,046.90, which was achieved in July. Analyst reactions to the developments have been varied. Bank of America maintained an Underperform rating with a revised target price of ₹1,850, reducing its FY27 EPS estimate from ₹53.93 to ₹48.40 due to higher anticipated R&D spending and concerns over concentration risks in the specialty segment. JM Financial downgraded its valuation multiple to 20x from 22x and reduced its target price to ₹2,020, citing slower specialty growth and limited organic drivers following the pending Organon merger. HSBC retained its Buy rating but cut its target price to ₹2,050, while Citi also held its Buy recommendation at ₹2,280 but reduced its EBITDA estimates by 8-12 percent for FY27-29. Elara Securities upgraded the stock to Buy from Accumulate, setting a target price of ₹2,238, highlighting the strong performance of branded generics and semaglutide, which were said to offset the specialty weakness. Motilal Oswal and Choice Institutional Equities both maintained Buy ratings with targets of ₹2,070 and ₹2,300, respectively. The company's Q2FY27 results showed revenue up 11.8 percent year-on-year to ₹161 billion, with adjusted profits rising 13.2 percent to ₹31.6 billion. However, global specialty sales grew by only 6.9 percent, a decline from recent quarters primarily due to execution challenges with Ilumya in the US. Management reiterated high-single-digit revenue growth guidance for FY27 but cautioned that the Organon acquisition is still on track for closure in Q4FY27.",
  "summary": "The stock has traded over 23 lakh shares worth ₹407 crore so far in the session, against a 52-week high of ₹2,046.90 recorded in July",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}