Shasun Pharma shares plunge 8%

Shares of Shasun Pharmaceuticals today plunged by 8 percent as the company's operations at its Puducherry facility have been affected due to strike by workers.

The stock failed to sustain early gains and tanked 13.14 percent to 52-week low of Rs 55.50 in intra-day trade on the BSE. It finally ended at Rs 59.75, down 6.49 percent from its previous close. Also read: NPPA to fix cap on prices of over 300 drugs by month-end At the NSE, the scrip settled at Rs 59, down 8.03 percent. The market capitalisation of the drug firm fell by Rs 32 crore to Rs 329 crore.
A strike was resorted by the workers at the company's Puducherry facility that manufactures active pharmaceutical ingredient (API) and formulation, on June 15 2013, Shasun Pharmaceuticals had said yesterday. "The company is doing the needful to resume operations at the earliest," it added. Meanwhile, in the stock market, the BSE benchmark Sensex ended the day at 19,223.28, down 102.59 points.