Dr Reddy's Laboratories' stock fell the most in over a year following brokerages' target price cuts after the company announced its results for the December quarter.
Brokerages believe that the pharma major's loss in market share of generic Revlimid or gRevlimid will negatively impact its performance.
The company's Q3 numbers were subdued and missed expectations, primarily due to market share loss in certain products and decline in gRevlimid sales.
The stock fell as much as 6.66% and traded 5.2% lower, compared to a flat NSE Nifty 50 Index.