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Ajanta Pharma tumbles nearly 6% on downgrade

By Religare
|

Shares of Ajanta Pharma fell nearly 6 per cent on Bombay Stock Exchange (BSE) after analyst downgraded the stock on high valuation.

According to Economic Times report, analyst has cited a negative technical setup on the counter for the selloff, expecting the stock to remain under pressure in the short term.

Reacting to the news, the shares of the company dropped 5.75 per cent in intra-day trade to Rs 1352.00 apiece on the BSE.

 

In a similar trend, shares of the company dipped 4.15 per cent to Rs 1,376.95 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 25,137.92, down 63.98 points, or 0.25 per cent, at 13:15 hours.

Story first published: Monday, September 7, 2015, 23:00 [IST]
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