Sun Pharmaceutical Industries fell 2.68% to Rs 580 at 14:57 IST on BSE, with the stock extending its recent decline.
Meanwhile, the BSE Sensex was down 133.69 points, or 0.61%, to 21,801.14
On BSE, so far 2.54 lakh shares were traded in the counter, compared with an average volume of 1.35 lakh shares in the past one quarter.
The stock hit a high of Rs 595.10 and a low of Rs 578 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 10 March 2013, falling 2.52% compared with the Sensex's 7.87% rise. The scrip also underperformed the market in past one quarter, rising 1.49% as against Sensex's 3.2% rise.
The large-cap company has an equity capital of Rs 207.12 crore. Face value per share is Re 1.
Shares of Sun Pharmaceutical Industries fell 6.79% in four trading days from the recent high of Rs 622.25 on 5 March 2014. The fall caught momentum after reports on Monday, 10 March 2014 indicated that the company has recalled thousands of bottles of generic diabetes medication after some bottles contained epilepsy medicine. The stock fell 2.64% to Rs 596 on Monday, 10 March 2014.
As per reports, Sun Pharmaceutical Industries' Detroit-based subsidiary Caraco Pharmaceutical Laboratories has recalled 2,528 bottles of Metformin HCL, a drug meant to treat Type 2 diabetes, after a customer complained of finding tablets of Gabapentin, an epilepsy drug, in a bottle. A notice of the recall, which began in late January, was posted on the US Food and Drug Administration website last week, the report added.
The US Food and Drug Administration (USFDA) classified the recall as a "Class II," which signifies a remote chance of severe adverse consequences or death due to the product flaw, reports added.
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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