Sun Pharmaceutical Industries lost 4.17% to Rs 578.80 at 11:21 IST on BSE, on reports the USFDA has imposed an import alert on the company's plant in Gujarat.
Meanwhile, the BSE Sensex was up 83.19 points, or 0.38%, to 21,939.41
On BSE, so far 3.74 lakh shares were traded in the counter, compared with an average volume of 1.40 lakh shares in the past one quarter.
The stock hit a high of Rs 610 and a low of Rs 565.60 so far during the day. The stock hit a record high of Rs 653.10 on 3 March 2014. The stock hit a 52-week low of Rs 405.50 on 1 April 2013.
The stock had underperformed the market over the past one month till 12 January 2014, falling 1.15% compared with the Sensex's 6.88% rise. The scrip, however, outperformed the market in past one quarter, gaining 4.98% as against Sensex's 4.45% rise.
The large-cap company has an equity capital of Rs 207.12 crore. Face value per share is Re 1.
As per reports, the US Food and Drug Administration (USFDA) has imposed a ban on imports from Sun Pharmaceutical Industries's plant at Karkhadi in Gujarat. The Karkhadi plant makes both drug ingredients and formulations. The USFDA's "import alert" was announced on Wednesday, 12 March 2014. According to the FDA, an "import alert" results in the detention without physical examination of drugs from firms that have not met so-called good manufacturing practices.
Sun Pharmaceutical Industries' consolidated net profit surged 73.73% to Rs 1531.09 crore on 51.59% increase in total income to Rs 4446.82 crore in Q3 December 2013 over Q3 December 2012.
Sun Pharmaceutical Industries is an international specialty pharmaceutical company with over 72% sales from global markets. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in US, India and several other markets across the world.
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