Lupin shares tank over 7%, mcap dips by Rs 5,003 cr in 2 days

Continuing to fall for the second straight session today on earnings disappointment, shares of drug firm Lupin today ended the day over 7 per cent lower, wiping out Rs 5,003 crore from its market valuation in two days.
The stock tumbled 7.31 per cent to settle at Rs 1,137.95 on BSE. During the day, it dived 9.74 per cent to Rs 1,108 -- its 52-week low.
On NSE, shares of the company tanked 7.18 per cent to end at Rs 1,140.20.
The stock was the worst performer among the Sensex and Nifty components.
On the volume front, 5.11 lakh shares of the company were traded on BSE and over 83 lakh shares changed hands on NSE during the day.

Shares of Lupin had yesterday fallen by nearly 2 per cent after results were announced, eroding Rs 5,003.09 crore from its market valuation in two days.

"The company for Q4 FY17, posted results much below expectations mainly on OPM and the net profit front," said Sarabjit Kour Nangra, VP Research Pharma, Angel Broking.
Lupin yesterday reported over 49 per cent dip in consolidated net profit to Rs 380.21 crore for the fourth quarter ended March, mainly on account of increase in expenses and impact of foreign exchange fluctuation.
The company had posted a net profit of Rs 747.88 crore in the corresponding quarter of previous fiscal.

However, consolidated total revenue from operations rose to Rs 4,253.30 crore for the quarter under consideration as against Rs 4,197.42 crore for the same period year ago.