Ipca Laboratories dips on USFDA import alert report

The stock dipped 11% to Rs 685 on the National Stock Exchange in early morning trade.

Ipca Laboratories has dipped 11% to Rs 685 on the National Stock Exchange (NSE) in early morning trade on media reports that the U.S. Food and Drug Administration (FDA) issued an import alert on the company's manufacturing facilities at Pithampur and Silvassa.

Earlier, in January this year, the US FDA had issued an import alert on the company’s plant in Ratlam, Madhya Pradesh.

The stock opened at Rs 694 and touched a low of Rs 672 on the NSE so far. A combined 284,000 shares changed hands on the counter till 0916 hours on the NSE and BSE.