Dr Reddy's Labs hits 52-week low

The stock has hit a 52-week low of Rs 2,953.35 today

Shares of Dr Reddy’s Labs are down almost 2.5% to Rs 2,295, after hitting a 52-week low of Rs 2,953.35.

The drug maker said that it has submitted its response to the United States Food and Drug Administration (USFDA) on 7 December 2015. It may be recalled that the USFDA in its warning letter issued to the company dated 5 November 2015, identified significant deviations from current good manufacturing practice (CGMP) at DRL's two pharmaceutical manufacturing facilities in Andhra Pradesh and a unit in Telangana. CLICK HERE FOR MORE

The stock had underperformed the market over the past one month till 7 December 2015, sliding 12.37% compared with 2.80% decline in the Sensex.  The stock hit a 52-week low of Rs 2,953.35 today.

At 09:58 AM, the stock was down 2.5% at Rs 2,995 on the BSE. It touched an intra-day low of Rs 2,953 in early morning trade. A combined 424,826 shares have changed hands on the counter on the BSE and NSE so far.