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Divi's tanks 20% as USFDA issues import alert on Vizag unit

Press Trust of India  |  New Delhi 

of Divi's Laboratories today slumped 20 per cent after the company said the US health regulator has issued an import alert on the products manufactured at one of its units in Visakhapatnam.

After making a weak opening, of the company further plunged 19.69 per cent to Rs 635 -- its 52-week low -- on

At NSE, of the company plummeted 19.99 per cent to hit a one-year low of Rs 632.55.

Following the sharp sell-off, the company's market valuation fell by Rs 3,986.74 crore to Rs 17,035.12 crore.

USFDA, however, exempted 10 products manufactured in the plant from the alert list.

"USFDA has issued an import alert 66-40 on March 20, 2017 on the products manufactured at the company's Unit-II at Visakhapatnam, Andhra Pradesh," Divi's Laboratories said in a filing.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 21 2017. 12:28 IST