Lupin shares hit 52-week low; down over 14% on regulatory concerns
The shares of Lupin Pharmaceuticals have hit their one-year low on report of regulatory concerns at one of its units.
Shares of pharma firm Lupin have tumbled over 14% to hit their one-year low level amid reports of regulatory concerns at one of its units.
The scrip plummeted by 13.45% to Rs 1,294.05, its 52-week low, on BSE.
On NSE, shares of the company tanked 14.38% to hit its one-year low of Rs 1,280.
The counter was the worst performer among the blue-chips on both Sensex and Nifty.
At present, the company has a market valuation of Rs 62,227.76 crore.
Meanwhile, the BSE has sought clarification from Lupin with reference to the news about Mandideep unit, inspected by the USFDA from February 8-19, 2016, and that the observations are serious in nature.
In the broader market, the BSE 30-share index Sensex was trading flat during afternoon session at 24,968.85, with a mild gain of 2.45 points.