Ranbaxy Laboratories rises on plan of acquiring US FDA-approved plant in India

Ranbaxy Laboratories Ltd.- (Amalgamation) | Pharmaceuticals & Drugs | Healthcare | BSE: 500359 | NSE: RANBAXY

07 Oct 2013 Evaluate

Ranbaxy Laboratories is currently trading at Rs. 367.40, up by 6.90 points or 1.91% from its previous closing of Rs. 360.50 on the BSE.

The scrip opened at Rs. 365.70 and has touched a high and low of Rs. 370.30 and Rs. 361.00 respectively. So far 303121 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 559.80 on 08-Nov-2012 and a 52 week low of Rs. 253.95 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs. 370.30 and Rs. 328.50 respectively. The current market cap of the company is Rs. 15359.60 crore.

The promoters holding in the company stood at 63.51% while Institutions and Non-Institutions held 19.46% and 14.29% respectively.

Ranbaxy Laboratories is reportedly looking to acquire US Food & Drug Administration (US FDA)-approved manufacturing facility in India to secure its future launches and shift some of its blockbuster drug filings in an attempt to reduce risks arising out of issues with its Mohali plant.

Last month, the US drug authorities had issued an import alert on Ranbaxy’s refurbished Mohali plant, halting sales from the last remaining US-compliant plant in India, for violation of good manufacturing practices.

Ranbaxy Laboratories, India’s largest pharmaceutical company, 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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