Ranbaxy Laboratories is currently trading at Rs. 601.75, up by 3.70 points or 0.62% from its previous closing of Rs. 598.05 on the BSE.
The scrip opened at Rs. 598.00 and has touched a high and low of Rs. 604.50 and Rs. 596.25 respectively. So far 17450 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 667.30 on 03-Sep-2014 and a 52 week low of Rs. 306.05 on 27-Jan-2014.
Last one week high and low of the scrip stood at Rs. 619.00 and Rs. 591.00 respectively. The current market cap of the company is Rs. 25499.85 crore.
The promoters holding in the company stood at 63.37% while Institutions and Non-Institutions held 21.49% and 13.73% respectively.
Ranbaxy Laboratories has settled the litigation concerning its participation in the Texas Medicaid Program. Under the settlement agreement, the pharma major will make payments to the State of Texas totaling $39.75 million in a series of tranches through August 2015. The company has settled the matter to avoid any further distraction and uncertainty of continued litigation with the state of Texas.
The claims at issue related exclusively to the manner in which the Ranbaxy has historically reported pricing data to Texas Medicaid for certain of its drugs. As has been widely reported, the State of Texas has brought nearly identical claims against virtually every other major pharmaceutical manufacturer in the United States.
Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.
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