New Delhi, Mar 21 (PTI) Shares of Divi’s Laboratories
today slumped 20 per cent after the company said the US health
regulator has issued an import alert on the products
manufactured at one of its units in Visakhapatnam.
After making a weak opening, shares of the company
further plunged 19.69 per cent to Rs 635 — its 52-week low —
At NSE, shares of the company plummeted 19.99 per cent to
hit a one-year low of Rs 632.55.
Following the sharp sell-off, the company’s market
valuation fell by Rs 3,986.74 crore to Rs 17,035.12 crore.
USFDA, however, exempted 10 products manufactured in the
plant from the alert list.
“USFDA has issued an import alert 66-40 on March 20, 2017
on the products manufactured at the company’s Unit-II at
Visakhapatnam, Andhra Pradesh,” Divi’s Laboratories said in a
This is published unedited from the PTI feed.