Shares of Dr Reddy's Laboratories dropped nearly six per cent Monday after the audit of the company's formulations manufacturing plant in Hyderabad was completed by USFDA with 11 observations.
The company's shares tumbled 5.60 per cent to close at Rs 2,616.95 on BSE. During the day, it tanked 7.81 per cent to Rs 2,555.55.
At NSE, shares dropped 5.57 per cent to close at Rs 2,615.35.
On the volume front, 1.13 lakh shares of the company were traded on BSE and over 18 lakh shares on NSE.
"This is to inform you that the audit of our formulations manufacturing plant- 3 at Bachupally, Hyderabad by USFDA, has been completed. We have been issued a Form 483 with 11 observations," Dr Reddy's Labs said in a filing to BSE on Friday.
We will address them comprehensively within the stipulated timeline, the filing added.