Divi's Laboratories lost 3.75% to Rs 1,120 at 11:41 IST on BSE after the company's Visakhapatnam unit received form 483 from the US health regulator.
The announcement was made after market hours yesterday, 7 December 2016.Meanwhile, the S&P BSE Sensex was up 360.65 points or 1.37% at 26,597.52.
On the BSE, 45,000 shares were traded on the counter so far as against the average daily volumes of 49,395 shares in the past one quarter. The stock had hit a high of Rs 1,138.70 and a low of Rs 1,090.55 so far during the day.
The stock had hit a record high of Rs 1,380 on 16 September 2016 and a 52-week low of Rs 918.10 on 29 February 2016. It had underperformed the market over the past one month till 7 December 2016, sliding 8.07% compared with the Sensex's 4.45% fall. The scrip had also underperformed the market in the past one quarter, declining 11.98% as against the Sensex's 9.3% fall.
The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.
The US Food and Drug Administration (USFDA) has issued a form 483 with 5 observations to the company's unit-II at Visakhapatnam, Andhra Pradesh. The company will respond to the USFDA letter within the time permitted, it said.
The US health regulator had an inspection of the plant from 29 November to 6 December 2016.
Divi's Laboratories' net profit fell 24.6% to Rs 223.85 crore on 3.1% growth in net sales to Rs 991.82 crore in Q2 September 2016 over Q2 September 2015.
Divi's Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics, custom synthesis of API's and advanced intermediates for discovery compounds for pharma giants, building blocks for peptides, building blocks for nucleotides, carotenoids and chiral ligands.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
