Cadila falls on earnings, broker downgrades
MUMBAI (Reuters) - Cadila Healthcare (CADI.NS) shares fell as much as 8.9 percent after October-December earnings disappointed on Friday, followed by broker downgrades.
Cadila said its December quarter net profit fell by 30.9 percent to 1.03 billion rupees.
Credit Suisse downgraded the stock to "neutral" from "outperform", citing delay in contribution from higher margin products.
(Reporting by Abhishek Vishnoi; Editing by Jijo Jacob)
- Tweet this
- Share this
- Digg this
Trending On Reuters
The government plans to raise about 891.2 billion rupees ($14.4 billion) by reducing its stakes in state-run banks to 52 percent, the junior finance minister said on Friday, sending shares of state lenders higher. Full Article
Forever21 sets sights on Indian cities, but please hold the hot pants Full Article
Japan inflation slows in October, output and spending show signs of recovery Full Article