Ranbaxy shares recover on value buying after steep falls

Shares in Ranbaxy Laboratories gain as much as 3.3 percent, after falling 26 percent over Friday and Monday following a ban by U.S. drug regulator on more of its products.

"Valuation wise, the stock looks good at these levels. It has fallen a lot and I don't think it will fall beyond 300 rupees," said Suresh Parmar, head, institutional equities at KJMC Capital Markets.

At 10:34 a.m., shares in Ranbaxy were up 2.41 percent at 316.60 rupees, outperforming the broader Nifty, which was up 0.24 percent.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Skill gaps faced by India’s graduates cannot be filled easily

    India, the third largest economy in the world with regard to purchasing power parity, is expected to overtake China in its working population by 2028.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Public good research in agriculture

Public good research in agriculture is designed to promote risk ...

Purnendu Ghosh

Why we must know the rules of the game

We like to believe that people are good and we ...

Shona Adhikari

Pop art is truly a feast for the eyes

The internationally reknowned Bruno Art Group’s presence in India had ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture