Sun Pharmaceutical Industries Ltd falls as much as 3.4 pct, lowest since Feb 2.
Company reported first fall in quarterly profits in a year on Tuesday, as pricing issues and supply constraints affected sales in the U.S. - its largest market.
Dec-quarter profit fell to 14.72 bln rupees ($220.33 mln), missing analysts average estimate of 17.83 bln rupees, according to Thomson Reuters data.
Company hopes to be able to fix the problems at Halol "over the next few quarters," founder-Managing Director Dilip Shanghvi said on a conference call.
Goldman Sachs cuts stock's target price to 824 rupees from 836 rupees.
Any further delay in resolution of the Halol situation presents risks to near-term estimates, Nomura analysts stated in a note.
($1 = 66.8100 Indian rupees)