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Ranbaxy shares surge above expectation

Even as stock market analysts expect only a modest financial performance for India’s largest drug maker, Ranbaxy, during the July-September quarter, the company shares continue to outperform the market during the past three months. The share price rose 35 per cent during the quarter as compared to a 12 per cent growth of the Sensex, the 30-stock bellwether index of the Bombay Stock Exchange over the same time, analysts note. Ranbaxy shares went up 57 per cent during the past year, though there were no dramatic developments to push its price in recent months, said Ranjit Kapadia, ...