Dishman Carbogen slumped 6.82% to Rs 99.1, extending losses for fifth session.
The stock has tanked 21.35% from its recent closing high of Rs 126 registered on 16 December 2019.
On 19 December 2019, the officials of Income-Tax Department visited the company's head offices and manufacturing sites in connection with search under Section 142 of the Income-Tax Act on 19 December 2019 and search enquiry is continuing. The firm clarified after trading hours on Thursday, 19 December 2019, that this has no impact on its routine operations. After conclusion, the company will be able to update any material information/event.
Dishman Carbogen Amcis' consolidated net profit declined 6.5% to Rs 41.16 crore on 4% rise in net sales to Rs 449.79 crore in Q2 September 2019 over Q2 September 2018.
The stock was currently trading below its 50-day moving average (DMA) placed at 127.94 as well as its 200 DMA placed at 186.86.
Dishman Carbogen Amcis offers a portfolio of drug development and commercialization services to the pharmaceutical and biopharmaceutical industries at all stages of drug development.
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