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Orchid Chemicals Pharmaceuticals News

Orchid Chem shares fall; Macquarie cuts rating
Reuters Market Eye - Shares in Orchid Chemicals & Pharmaceutical fall 9.9 percent to 125.15 rupees, down sharply for a second day, after it reported on Monday a net loss for Jan-March orcd.ns-rquarter and a fall in net sales from a year earlier. Macquarie downgrades the midcap pharmaceutical stock to "underperform" from "neutral" and cuts its target price to 105 rupees from 170 rupees, citing the