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Lupin, Dr Reddy's Lab, Coal India, Tata Motors DVR hit 52-week lows

Ajanta Pharma and PI Industries are others from the Nifty 500 index too hit 52-week low on NSE.

SI Reporter  |  Mumbai 

India vs world markets: India is in a better space

Lupin, Dr Reddy’s Laboratories, and (Differential Voting Rights) from the Nifty50 index hit their respective 52-week lows, down up to 4% on the National Stock Exchange (NSE).

Coal India, the biggest loser among Nifty 50 index, was down 4% to Rs 242, extending its previous day’s 1% decline on BSE.

The company produced 155.4 million tonnes (mt) of coal in April-July of 2017- 18, missing the target by 12.6 mt. The production goal for April-July was 168 mt, said in a filing to the BSE on Tuesday.

too slipped 4% to Rs 996, extending its 12% decline in past 10 trading days. The pharmaceutical company had posted a bad set of numbers for the quarter ended June (Q1FY18). The consolidated net profit more than halved to Rs 358 crore from Rs 882 crore in year ago quarter.

On operating front, the EBITDA (earnings before interest, taxation, depreciation and amortization) margins came in at 18.5% against 27.4% in 1QFY2017, mainly on back of lower than expected sales during the quarter and dip in the gross margins.

Commenting on the results, Nilesh Gupta, Managing Director, Lupin, said “Our Q1, FY2018 results have been below our own expectations on count of higher than anticipated price erosion in select products like Glumetza, disruption on count of GST implementation in India and appreciation in the rupee.”

Ajanta Pharma and PI Industries are others from the Nifty 500 index too hit 52-week low on NSE.

AJANTA PHARMA 1341.85 1335.10 1370.05 02-Aug-17
COAL INDIA 241.80 241.20 242.60 03-Jul-17
DR REDDY'S LABS 2341.85 2337.00 2369.80 01-Aug-17
LUPIN 1003.05 995.25 1016.10 01-Aug-17
P I INDS. 723.40 721.50 726.65 09-Nov-16
RATTANINDIA POW. 6.30 6.20 6.30 27-Dec-16
TATA MOTORS-DVR 253.75 253.15 257.45 05-May-17

First Published: Thu, August 03 2017. 15:07 IST