The drugmaker's wholly-owned subsidiary got an approval from the Ministry of Health, Labour and Welfare of Japan for Ilumya.

The said drug is used in the treatment of plaque psoriasis in adult patients. According to the company, around 4.3 lakh people in Japan suffer from psoriasis.

Shares are off the day's high and trade little changed at Rs 481.15 per share.

CARE Ratings has downgraded the ratings on the company's long-term bank facilities to CARE AA from CARE AA+.

Decline in execution of orders, aggravated by Covid-19 is one of the key reasons listed for the downgrade. The agency expects execution to decline further on account of labour migration and logistics issues.

The deteriorating operating margins and elongated working capital cycle, high concentration of orders in the thermal power segment, declining competitiveness and a weak financial profile are some of the other reasons attributed to the downgrade in ratings.

Shares fell as much as 4.2% to Rs 35.35 and are down for the second straight day.

• Benchmark indices continue to trade with losses
• Nifty down 1.3% at 10,250
• Sensex down 1.2% at 34,750
• Nifty Bank down 2% at 21,149
• Nifty Midcap Index down 1.8%
• Nifty Smallcap Index down 1.9%
• India Volatility Index up 4.66% to 30.1
• Nifty FMCG (up 1%) and Nifty Pharma (up 0.2%) are the only sectoral gainers
• Nifty Media is the top sectoral laggard; down 4.1%
• Nifty Metal, Nifty PSU bank and Nifty Realty fall over 3.3% each
• Nifty Auto and Nifty I.T. fall over 1.5-2%
• Britannia is the top Nifty gainer; up 2.1%
• Zee Entertainment is the top Nifty laggard; down 4.4%
• 44 out of the 50 Nifty constituents trade with losses
• 1,213 stocks on the NSE trade with losses while 551 gain

National Aluminium Company Ltd. reported a 30% decline in its revenue for the quarter ending March.

The company's ebitda fell 60% while net profit fell 56% to Rs 102.7 crore. Margins too saw a contraction to 10.8% from 18.7% during the same period last year.

Chemicals segment of the company saw its revenue declining 15% from the previous year while the Aluminium segment saw its revenue contracting 32% year-on-year.

Shares fell as much as 6% to Rs 31.5 and are down for the second straight day.

• Trades at an all-time high
• Gains as much as 6.94% to Rs 3,579
• Biggest single-day gain in over a month
• Has gained in four out of the last 10 trading sessions
• Today's volumes are 3.3 times higher than its 30-day average
• Has more than doubled from its 52-week low of Rs 1,632 on August 23, 2019
• Has gained 35% this year as compared to a 15% decline for the S&P BSE Sensex index