Cipla lost 1.47% to Rs 394.25 at 14:16 IST on BSE, with the stock extending recent slide triggered by the company reporting weak Q2 earnings.
Meanwhile, the S&P BSE Sensex was down 37.80 points or 0.18% at 20,853.02.
On BSE, 1.52 lakh shares were traded in the counter as against average daily volume of 1.22 lakh shares in the past two weeks.
The stock hit a high of Rs 401.45 and a low of Rs 391.80 so far during the day.
Shares of Cipla have declined 4.43% in four trading sessions from Rs 412.55 on 13 November 2013, after the company after market hours on 13 November 2013 reported poor Q2 earnings.
Cipla's consolidated net profit declined 26.6% to Rs 358 crore on 14% growth in revenue to Rs 2463 crore in Q2 September 2013 over Q2 September 2012.
Cipla Medpro South Africa (Medpro), a pharmaceutical company, incorporated in South Africa became a wholly owned subsidiary of Cipla on 15 July 2013. Accordingly, the Q2 September 2013 result includes the relevant results of Medpro and its subsidiaries from the date Medpro became subsidiary of the company and therefore the corresponding figures for the previous period are not comparable, Cipla said.
The Q2 September 2012 revenue includes one-time profit share revenues from Escitalopram through the company's US partner. EBITDA (earnings before interest, taxation, depreciation and amortization) declined 19.6% to Rs 564 crore in Q2 September 2013 over Q2 September 2012.
Cipla is a pharmaceutical company. With over 34 manufacturing units across the country, Cipla manufactures over 2000 products in 65 therapies. With a turnover of over $1.5 billion, Cipla serves doctors and patients in over 170 countries.
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