ALSO READTata Motors' DVR discount near two-year high Nifty Pharma index extends fall; Lupin hits 52-week low Dr Reddy's slips to 4th spot in sales revenue as Lupin, Aurobindo race past Dr Reddy's Lab down 5% to hit 52-week low, top Sensex loser Are MFs gradually picking up Tata stocks after Chandra appointment?
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, Coal India said in a filing to the BSE on Tuesday.
Lupin 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.
|COMPANY||LATEST||52 WK LOW||PREV LOW||PREV DATE|
|DR REDDY'S LABS||2341.85||2337.00||2369.80||01-Aug-17|
|P I INDS.||723.40||721.50||726.65||09-Nov-16|