Pharma firm Cipla today slipped over eight per cent on the Bombay Stock Exchange, after media reports surfaced that the US Food and Drug Administration (FDA) has found some deviations in its manufacturing process in its Bangalore plant.
Shares of the company fall 8.63 per cent to touch a low of Rs 210 on the BSE. The stock was later trading at Rs 222.15, down 3.35 per cent.
Meanwhile, on the National Stock Exchange, the scrip declined 8.26 per cent to touch a low of Rs 211. It was later trading at Rs 223.15, down 2.98 per cent.
A total of 8.91 lakh shares of Cipla changed hands on both the bourses.
The US Food and Drug Administration (FDA) has found nine deviations in Indian drug maker Cipla's manufacturing process during a recent inspection of the company's Bangalore plant.
The Mumbai-based company, however, has said that the deviations are minor ones relating to manufacturing practices.