Ranbaxy Lab drops after 2-day 5.2% rally

Ranbaxy Laboratories lost 1.46% to Rs 411.70 at 12:31 IST on BSE, with the stock sliding on profit booking after 2-day 5.21% gains.

Meanwhile, the S&P BSE Sensex was down 124.38 points or 0.59% at 21,114.98.

On BSE, 3.16 lakh shares were traded in the counter as against average daily volume of 9.54 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 3.38% at the day's low of Rs 397.75 so far during the day. The stock rose as much as 0.8% at the day's high of Rs 415 so far during the day. The stock had hit a 52-week high of Rs 559.80 on 8 November 2012. The stock had hit a 52-week low of Rs 253.95 on 2 August 2013.

The stock had outperformed the market over the past one month till 3 November 2013, surging 13.76% compared with the Sensex's 6.72% rise. The scrip had also outperformed the market in past one quarter, jumping 50.67% as against Sensex's 10.83% rise.

The large-cap company has equity capital of Rs 211.57 crore. Face value per share is Rs 5.

Shares of Ranbaxy Laboratories had risen 5.21% in two trading sessions to settle at Rs 411.70 on Sunday, 3 November 2013 from a recent low of Rs 391.30 on 31 October 2013. There was a special Muhurat trading session on Sunday, 3 November 2013 on account of Diwali-Balipratipada.

Ranbaxy Laboratories reported a consolidated net loss of Rs 454.17 crore in Q3 September 2013 compared with net profit of Rs 754.17 crore in Q3 September 2012. Net sales rose 3.1% to Rs 2750.17 crore in Q3 September 2013 over Q3 September 2012.

Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of generic medicines. Ranbaxy serves its customers in over 150 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 43 countries and manufacturing operations in 8 countries. Ranbaxy is a member of the Daiichi Sankyo Group.

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