Ranbaxy bucks the trend, soars on US govt relief

DALAL STREET SPIKES

Shares of Ranbaxy Laboratories bucked the broader market trend on Friday as they rose 4.71 per cent to close at Rs 292.39 after the US government withdrew a motion against the company following submission of a comprehensive set of audit documents to the authorities.

The US Department of Justice had earlier filed the motion in the district court of Maryland in July this year to access data and documents, which, it claimed, Ranbaxy and its legal consultancy firm, Parexel, were not disclosing. A total of 1.96 million equity shares changed hands on the Bombay Stock Exchange.