Aurobindo Pharma stock plunges 9%

Aurobindo Pharma stock tumbled after it received a warning letter from the US health regulator.

Aurobindo Pharma stock tumbled by over 9 per cent on the bourses today,after the drug maker received a warning letter from the US health regulator with regard to its antibiotics manufacturing unit in Hyderabad.

Hit by the move,shares of the company fell sharply by 9.23 per cent to settle at Rs 175.55 on the BSE. In intra-day,the stock declined by 10.21 per cent to touch a months’ low of Rs 173.65.

The stock took similar beating on the NSE as well,where it plummeted by 9.69 per cent to close at Rs 174.65.

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On the volume front,over 34 lakh shares of the company were traded on the bourses during the day.

The USFDA has asked Aurobindo Pharma to submit a detailed action plan on rectifying the situation.

Meanwhile,the BSE key index Sensex ended the day at 17,993.33,down 332.76 points,or 1.82 per cent.

Bhavish Aggarwal (Photo via his Twitter page)

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