Cipla fell 2.73% to Rs 584.50 at 13:37 IST on BSE after the company said the US drug regulator issued four observations across three facilities in Goa.
The announcement was made during trading hours today, 30 September 2016.Meanwhile, the BSE Sensex was down 24.41 points, or 0.09%, to 27,803.12.
The counter witnessed high volumes. On BSE, so far 7.67 lakh shares were traded in the counter, compared with average daily volume of 1.88 lakh shares in the past one quarter. The stock hit a high of Rs 605 and a low of Rs 562.05 so far during the day. The stock hit a 52-week high of Rs 704.75 on 29 October 2015. The stock hit a 52-week low of Rs 458.25 on 25 May 2016. The stock had outperformed the market over the past 30 days till 29 September 2016, rising 4.94% compared with 2.20% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.31% as against Sensex's 2.51% rise.
The large-cap company has equity capital of Rs 160.84 crore. Face value per share is Rs 2.
Cipla said that United States Food and Drug Administration (USFDA) recently concluded audit of the company's three manufacturing facilities at Goa and issued 4 observations across these three facilities. These observations were primarily procedural in nature and the company has already responded to these observations. Cipla said it continues to operate its facilities with a high level of compliance and control.
On a consolidated basis, Cipla reported 43.74% fall in net profit to Rs 365.24 crore on 6.94% fall in net sales to Rs 3499.81 crore in Q1 June 2016 over Q1 June 2015.
Cipla is a global pharmaceutical company.
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