Lupin down in the red
By
Research Desk
about 8 years ago
After going up into the green yesterday on the back of its robust Q4FY16 performance, the stock price of Lupin has dipped into the red today morning. The stock is currently the top loser on the BSE, down 7% at Rs.1542.35, with an intra day at Rs.1525.35.
The market has got over the numbers and it is now worried about its Goa facility which is under the US FDA scanner. The facility has got nine observations and the inspection pointed out inadequacy and lack of adherence to standard operating procedures. The company has responded to these observations and is now waiting for a response from the FDA. This facility is a big deal for the company as 40% of its US turnover comes from here.