A recent scrutiny of drug-manufacturer Cipla's Bangalore plant by the US Food and Drug Administration (FDA) revealed as many as nine deviations in the pharma firm's manufacturing process.

With the reports about the digression found at the plant, the shares of Cipla suffered a blow at the Bombay Stock Exchange (BSE), as well as the National Stock Exchange (NSE), on Monday. Despite the company justifying its stand and terming the deviations as "minor ones" relating to manufacturing practices, the stock fell at the BSE.

Taking an 8.63 percent drop in early trading, the shares of Cipla fell to a low of Rs 210 on the BSE; while at the NSE, the shares of the company dropped 8.26 percent, touching a low of Rs 211. Even though, at noon, the shares regained part of the early losses, still the shares were trading down on the BSE by 2.76 percent to Rs 223.50.

Finally, the stocks were trading at a 3.35 percent drop at to Rs 222.15 at the BSE; and at a 2.98 percent drop to Rs 223.15 at the NSE.