Tata Motors, Dr Reddy’s Lab, HDFC Bank Slip 2%
It was observed that the Indian ADRs ended lower on Friday. If we talk about the banking space then ICICI Bank was down 1.92 percent at USD 9.21. On the other side, HDFC Bank fell 1.89 percent at USD 97.96.
While in the IT space, you will observe that the Wipro fell 1.42 percent at USD 5.57 along with Infosys that stayed unchanged at USD 18.30. The analysts also informed that the Tata Motors declined 2.18 percent at USD 26.44.
In other sectors, Dr Reddy’s Laboratories slipped 2.64 percent at USD 33.16. The shares of Dr Reddy’s Laboratories declined 2.64 percent intraday Friday. This was when the company received Form 483 from USFDA.
Dr Reddy has received Form 483 with 4 observations for its API Hyderabad Plant 1 at Jinnaram Mandal, Medak Telengana from USFDA. Today, the company’s Telengana units informed that the audit is completed by the USFDA. The audit was carried out with four observations which will be addressed comprehensively within stipulated time.
On the BSE, at 15:26 hrs Dr Reddy’s Laboratories was quoting at Rs 2,155.10, down Rs 28.10, or 1.29 percent.
On 24 July the share touched its 52-week high Rs 2,788.00 while on 11 August the share touched its 52-week low Rs 1,901.65.
At present, it is trading 22.7 percent below its 52-week high and 13.33 percent above its 52-week low.