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Cipla plunged to its 11-month low on Friday after it reported a loss in fourth quarter earnings.
Cipla shares dropped as much 4.7 per cent to Rs 480.20, its lowest since June 27,2016.
At about 10.45 am, the stock was quoting at Rs 490.50, down Rs 13.60 or 2.70 per cent.
Quarterly net loss narrowed to Rs 61.79 crore, but missed analysts' expectations of a profit for the period.
“Going forward we expect near-term growth to be weak led by challenges in India business and limited margin improvement," analysts at Jefferies said in their report.
The stock was on track for a fifth straight session of falls. The stock is among the biggest percentage losers on the NSE index.
The stock has declined 11.4 per cent this year as of Thursday's close.
About 3.1 million shares changed hands, 2.6 times the 30-day average of 1.2 million shares.
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