Ranbaxy to sell stakes in ex-group cos
Date: 13-05-2010Ranbaxy Laboratories plans to divest its investments in the group companies of Malvinder Singh and family. At the current market price, the value of these investments is a little over Rs 300 crore. The company will also sell its 13% stake in Orchid Chemical and Laboratories, which is worth about Rs 135 crore at the current market price.
Under the earlier management, Ranbaxy had picked up 4.45% stake in Fortis Healthcare and 25% stake in Shimal Research Laboratories. At current price of Rs 163 per share, Ranbaxy’s stake in Fortis Healthcare is valued at Rs 230 crore. crackcrack