Pharma major Ranbaxy Laboratories today closed 6.81 $ down on the Bombay Stock Exchange amid reports that the company may be sitting on mark to market (MTM) losses of over Rs 2,500 crore on foreign currency derivative transactions.
Shares of Ranbaxy closed down 6.81 % to end the trade at Rs 186.25 on the BSE. During the trading, the scrip dipped 7.43 % to touch an intra-day low of Rs 185.
A similar movement was seen on the National Stock Exchange, where the stock closed at Rs 187.45, down 6.37 %. The stock during the market hours skid 7.59 % to touch an intra-day low of Rs 185.
A total of 42.90 lakh shares of Ranbaxy changed hands on the two bourses.The media reports said Ranbaxy might be sitting on derivative losses of over Rs 2,500 crore on foreign currency derivative transactions entered into with various banks, quoting estimates by one of its lenders in February this year.