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Divi's Labs share stock falls 7% on supply disruptions amid lockdown

Share price of Divi's Labs closed at Rs 1,881 on Wednesday, declining 5.34% or 106 points on BSE.

twitter-logo BusinessToday.In        Last Updated: April 1, 2020  | 16:56 IST
Divi's Labs share stock falls 7% on supply disruptions amid lockdown
Divi's Laboratories Limited is engaged in the manufacture of life-saving Active Pharmaceutical Ingredients (APIs).

Divi's Laboratories share price fell over 7% after the pharma firm said it has been facing supply disruptions amid lockdown.

Share price of Divi's Labs closed at Rs 1,881 on Wednesday, declining 5.34% or 106 points on BSE.

The stock fell over 7% intraday after the pharma company said that its supplies and sales have been impacted due to global lockdown.

Following the update, share price of Divi's Laboratories fell to the day's low, trading 7.15% lower at Rs 1,845.50 on BSE as against the last closing value of Rs 1,987.55.

With an intraday volatility of 5.14%, the stock price of Divi's Labs has fallen after 2 days of consecutive gain. The stock has fallen 1.35% in one week and 10.16% in a month.

The stock currently stands higher than its 200-day moving averages but lower than 5, 20, 50 and 100-day moving averages.

Divi's Labs said it is currently experiencing some supply chain disruptions during this lockdown period and added," Even though the company has put in place a business continuity plan, due to the restriction in the movement of goods and employees, we anticipate certain delays in the deliveries of our products to our customers. "

As per the filing, the pharmaceutical firm has ensured essential staffing for business continuity while following social distancing guidelines and adopted 'Work from Home' for other staff.

Divi's Laboratories Limited is engaged in the manufacture of life-saving Active Pharmaceutical Ingredients (APIs).

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