Ranbaxy Laboratories lost 1.02% to Rs 439.70 at 13:12 IST on BSE, with the stock sliding on profit booking after Wednesday's 8.75% rally.
Meanwhile, the S&P BSE Sensex was up 405.97 points or 2.19% at 18,973.52.
On BSE, 4.88 lakh shares were traded in the counter as against average daily volume of 5.12 lakh shares in the past one quarter.
The stock was volatile. The stock lost as much as 2.66% at the day's low of Rs 432.40 so far during the day. The stock rose as much as 1.96% at the day's high of Rs 453 so far during the day. The stock hit a 52-week low of Rs 253.95 on 2 August 2013. The stock hit a 52-week high of Rs 578.30 on 4 September 2012.
The stock had outperformed the market over the past one month till 4 September 2013, surging 4.69% compared with the Sensex's 3.11% fall. The scrip had, however, underperformed the market in past one quarter, declining 6.19% as against Sensex's 5% fall.
The large-cap company has equity capital of Rs 211.56 crore. Face value per share is Rs 5.
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Shares of Ranbaxy Laboratories had rallied 8.75% to settle at Rs 444.25 on Wednesday, 4 September 2013.
Ranbaxy Laboratories during market hours today, 5 September 2013, said that the company has completed 20 successful years in Russia. The company established its operations in the Russian market in 1993 with the launch of its key brand, Cifran. Since then, Ranbaxy has grown to become a number one player with a market share of 15.4% in the represented market segment in Russia (IMS, May 2013).
Ranbaxy said that the Russian pharmaceutical market is estimated at around $20 billion growing at a CAGR of around 11%. The retail/out of pocket market contributes around 66% to the total market. The Federal Government in Russia is committed towards the improvement of the pharma industry with the launch of Russian Pharma 2020 strategy under which the government is encouraging pharma players to carry out heavy local investment in infrastructure, quality improvement programmes, clinical trials hubs and training for health care professionals, Ranbaxy said in a statement.
Ranbaxy Laboratories reported consolidated net loss of Rs 524.24 crore in Q2 June 2013, lower than net loss of Rs 585.72 crore in Q2 June 2012. Net sales declined 17.8% to Rs 2633.20 crore in Q2 June 2013 over Q2 June 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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