The scrip traded 3.14% down at Rs 721.15 at around 10.56 am (IST).
The company posted 34.53% YoY growth in net sales at Rs 316.93 for the quarter ended December 31
ONGC, M&M, PowerGrid, Bajaj Finance and L&T were the top gainers on the Sensex.
Here is the list of top stocks that could be in focus on April 13.
IIP had contracted by an updated 0.9% in January after rising by 1.6% in December.