Ranbaxy Laboratories rose 3.36% to Rs 362.95 at 11:51 IST on BSE on reports that the company and Teva Pharmaceutical Industries have jointly agreed to settle an anti-trust claim with the New York Attorney General.
Meanwhile, the BSE Sensex was up 44.43 points, or 0.22%, to 20,678.64.
On BSE, so far 6.17 lakh shares were traded in the counter, compared with an average volume of 5.81 lakh shares in the past one quarter.
The stock hit a high of Rs 366.60 and a low of Rs 355.05 so far during the day. The stock hit a 52-week high of Rs 490.15 on 6 January 2014. The stock hit a 52-week low of Rs 253.95 on 2 August 2013.
The stock had underperformed the market over the past one month till 18 February 2014, sliding 13.59% compared with the Sensex's 2.04% fall. The scrip had also underperformed the market in past one quarter, falling 18.04% as against Sensex's 1.04% decline.
The large-cap company has an equity capital of Rs 211.89 crore. Face value per share is Rs 5.
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According to reports, Ranbaxy Laboratories and US drugmaker Teva Pharmaceutical Industries have jointly agreed to settle an investigation launched by the New York Attorney General over claims the two firms colluded to indulge in anti-competitive practices.
Under the terms of the settlement, the two generic drug makers will end a 2010 agreement of not challenging each other's rights to sell certain drugs exclusively in the United States. Ranbaxy and Teva will pay the New York state $300,000 and have agreed to refrain from similar agreements in the future.
The settlement, expected to be announced on Wednesday, 19 February 2014, concludes an investigation into the agreement relating to atorvastatin calcium, the generic version of Pfizer Inc's Lipitor - a drug used to treat high cholesterol, reports said.
Ranbaxy Laboratories reported a consolidated net loss of Rs 158.94 crore in Q4 December 2013, lower than net loss of Rs 492.44 crore in Q4 December 2012. Sales rose 7% to Rs 2860 crore in Q4 December 2013 over Q4 December 2012.
Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of generic medicines. Ranbaxy is a member of the Daiichi Sankyo Group.
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