Cadila falls on earnings, broker downgrades

Last Updated: Mon, Feb 11, 2013 05:26 hrs
An investor watches the share index at a local share and stock market in the northern Indian city of Chandigarh

India's Cadila Healthcare 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.

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