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Saturday 24 December 2016

Why Divi's Laboratories stock fell to its new 52-week

The company said that these observations have not impacted their operations. Divi's Laboratories Limited has written to the NSE, responding that it's Unit-II at Visakhapatnam, Andhra Pradesh has had an inspection by the USFDA from November 29- December 6, 2016, and that they have been issued a form 483 with 5 observations.

The exchange had asked for their response to the observations: 

1. Proper control not being exercised over computer system 
2. Facility equipment is not maintained to ensure purity quality strength
3. Documentation and records not maintained or inaccurate falsified.

In response to these queries, the company said that these observations have not impacted their operations.

Divis Laboratories Ltd ended at Rs 866.1, down by Rs 242.5 or 21.87% from its previous closing of Rs 1108.6 on the BSE.

The scrip opened at Rs 1101.05 and touched a high and low of Rs 1109.5 and Rs 821.35 respectively. A total of 14547245(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 29429.85 crore.

The BSE group 'A' stock of face value Rs 2 touched a 52 week high of Rs 1380 on 16-Sep-2016 and a 52 week low of Rs 918.1 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs 1167.85 and Rs 1105 respectively.
The promoters holding in the company stood at 52.06 % while Institutions and Non-Institutions held 34.45 % and 13.49 % respectively.

Source: N.P

But as per EOD system, future stock in short mode, 

Please see the chart below - EOD system


Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.

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