Sun Pharmaceutical Industries dropped 1.68% to Rs 547.75 at 11:40 IST on BSE after the company said that a fire was observed at the solvent storage area at the company's Ankleshwar, Gujarat plant in the early hours of 4 February 2018.
The clarification was issued after market hours yesterday, 5 February 2018.Meanwhile, the S&P BSE Sensex was down 1,014.35 points, or 2.92% to 33,742.81.
On the BSE, 2.97 lakh shares were traded in the counter so far, compared with average daily volumes of 5.24 lakh shares in the past one quarter. The stock had hit a high of Rs 548.90 and a low of Rs 531 so far during the day. The stock hit a 52-week high of Rs 728.45 on 14 March 2017. The stock hit a 52-week low of Rs 433.15 on 14 August 2017.
The stock lost 3.74% over the past one month till 5 February 2018, underperforming the Sensex's 1.77% rise. The scrip had also underperformed the market in past one quarter, gaining 0.89% as against Sensex's 3.18% rise. The scrip had also underperformed the market in past one year, dropping 13.91% as against Sensex's 23.08% rise.
The large-cap company has equity capital of Rs 239.93 crore.
Face value per share is Re 1.
The plant manufactures intermediates and active pharmaceutical ingredients (APIs). The fire was put off by the site firefighting team with support from the DMPC fire tenders. There were no injuries during this incident and the situation is under control. There was no direct loss of production because of this incident. A detailed investigation is under progress, company said.
The company will announce its Q3 results on 14 February 2018. On a consolidated basis, Sun Pharmaceutical Industries' net profit fell 59.5% to Rs 1001.79 crore on 15% decline in net sales to Rs 6590.06 crore in Q2 September 2017 over Q2 September 2016.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
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