Shares of pharmaceutical company, FDC Ltd, fell as much as 8.1 percent to Rs 232, their biggest intraday percent drop since May 31.
The US Food and Drug Administration (FDA) carried out a surprise inspection of the company’s Aurangabad facility in Maharashtra and made eight observations for which appropriate response will be submitted, company said on Monday.
The FDA inspection was on ophthalmics products being exported to US and company says it continues to export them.
More than 109,614 shares traded 2.6 times their 30-day average. Up to Monday’s close, stock had risen 45.9 percent in the past one year.
FDC shares traded at Rs 242.50, down by 3.98 percent at 11:17 AM on the NSE.
Meanwhile, the Nifty Pharma index on Tuesday was trading higher by 0.14 percent.
As many as six stocks advanced on the sectoral index against four declines.
Glenmark Pharma, Cadila Health were among leading gainers, while Aurobindo Pharma, Sun Pharma were among top drags.
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(With inputs from Reuters)
First Published: IST