Cipla hits five-month low on weak outlook; down 12% in two days

The stock was down 5% at Rs 534, trading at its lowest level since June 6, 2018 on the BSE.

Shares of Cipla hit a five-month low of Rs 534, down 5% on Tuesday, extending its Monday’s 7% decline on the BSE, due to the weak outlook for the second half of the current fiscal (H2FY19). The pharmaceuticalmajor said there was pressure on the tender business, supply disruptions, commodity inflation and business impact from countries hit by sanctions.

The stock was trading at its lowest level since June 6, 2018. It has slipped 16% in the past six trading sessions from Rs 635 on October 29, 2018. It touched a 52-week high of Rs 678 on September 19, 2