Market Now: Lupin drags Nifty Pharma index down by 4%

NEW DELHI: Nifty Pharma index plunged up to 4 per cent as the index heavyweight Lupin cracked 17 per cent in afternoon trade on Tuesday.

Shares of Lupin tumbled to a four-year low after the drug maker said it has received a warning letter from the USFDA for Goa and Indore plants.

The Nifty Pharma index was trading 3.94 per cent down at 9,504 around 01:40 pm (IST) with all components in the red.

Shares of Glenmark Pharmaceuticals (down 2.87 per cent), Divi's Laboratories (down 2.68 per cent), Aurobindo Pharma (down 2.63 per cent), Cipla (down 2.57 per cent), Sun Pharmaceutical Industries (down 2.46 per cent), Piramal Enterprises (down 2.01 per cent) and Dr. Reddy's Laboratories (down 1.72 per cent) cracked up to 3 per cent.

Rajdarshan Industries, Cambridge Technology Enterprises, Jindal Cotex, RattanIndia Power, Stampede Capital and Strides Shasun were among those 21 stocks that hit fresh 52-week lows on NSE in Tuesday's trade so far.