Indian Markets Trades Lower, Lupin Falls Post FDA Warning

Benchmark indices opened trade today on June 14, 2021 marginally lower, even as global cues were mixed.

Asian markets were mixed, with a slight positive bias. The Sensex was trading marginally lower by 80 points, while the Nifty was down 38 points in trade.

Realty major DLF saw its shares fall even after the company said that it had sold residential properties worth Rs 3,084 crore in the last fiscal year, registering a growth of 24 per cent from 2019-20, as it saw better demand for completed and new inventories despite the pandemic.

Drug firm Lupin shares dropped 3 per cent after the company received a warning letter from the US health regulator for its Somerset facility in the US. The United States Food and Drug Administration (USFDA) had inspected the company's Somerset, New Jersey, facility from September 10, 2020, to November 5, 2020, Lupin said in a regulatory filing. "The company does not believe that the warning letter will have an impact on disruption of supplies or the existing revenues from operations of this facility," it added.

Bank of Maharashtra shares were trading flat after the bank said it was looking to raise Rs 2,000 crores.

Among the Nifty losers in trade were Adani Ports, Bajaj Finance and State Bank of India.