Pfizer fell 2.43% to Rs 1,689.95 at 15:11 IST on BSE on profit booking after gaining 20.99% in prior seven trading days.
The BSE Sensex was down 124.07 points, or 0.59% at 20,730.85
On BSE, 37,368 shares were traded in the counter as against average daily volume of 13,376 shares in the past one quarter.
The stock hit a high of Rs 1,747 and a low of Rs 1,675.15 so far during the day. The stock had hit a record high of Rs 1,779 on Monday, 2 December 2013. The stock had hit a 52-week low of Rs 985 on 29 July 2013.
The stock had outperformed the market over the past one month till 3 December 2013, rising 58.81% compared with the Sensex's 1.81% fall. The scrip also outperformed the market in past one quarter, surging 70.58% as against Sensex's 14.37% rise.
The mid-cap pharma firm has equity capital of Rs 29.84 crore. Face value per share is Rs 10.
Shares of Pfizer were on a roll recently, surging 20.99% in seven trading days to Rs 1731.95 on 3 December 2013 from a recent low of Rs 1431.55 on 22 November 2013.
Gains were fuelled by a merger proposal between Pfizer and Wyeth. The boards of Pfizer and Wyeth approved the merger between the two pharmaceutical companies on 23 November 2013.
As per the merger scheme, shareholders of Wyeth will get seven Pfizer shares for every 10 shares held. The appointed date of the merger scheme would be 1 April 2013. The merged entity will create a single brand of Pfizer.
Meanwhile, both the companies announced liberal interim dividends. Pfizer said it will be paying an interim dividend of Rs 360 per share to Pfizer shareholders and Wyeth will pay Rs 145 per share to Wyeth stockholders. The record date for the dividend payment has been set at 6 December 2013 by both the companies.
The swap ratio for merger of Wyeth with Pfizer has been recommended after taking into account the payment of the interim dividend and is on a post dividend basis, the two companies said separately.
In the international market, Pfizer acquired Wyeth in 2009. The global merger of these two companies have been completed by the end of the same year except certain countries, including India. The valuation of equity swap and regulatory hurdles for the merger of two listed entities were the main reason for the delayed decision for the consolidation of these companies in India.
Pfizer's net profit jumped 33.1% to Rs 69.59 crore on 8.6% rise in net sales to Rs 267.35 crore in Q2 September 2013 over Q2 September 2012.
Pfizer's pharmaceuticals product portfolio spans a wide range of therapeutic classes from vitamins supplements and nutritional to antibiotics and cardiovascular.
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