Shares of Lupin Limited fell as much as 5.9 per cent to Rs 736.40 rupees, touches a level close to seven-week low after the pharmaceutical company posted quarterly results below estimates.
The Mumbai-based firm posted profit of Rs 290 crore for the March-quarter versus the estimate of Rs 418 crore.
Jefferies analysts cut PT to Rs 650 from Rs 680. They said that Lupin's base business is facing challenges and the R&D execution has been weak. This has raising concerns about the medium-term growth.