Meanwhile, the S&P BSE Sensex was down 174.03 points, or 0.93%, to 18,600.21.
On BSE, 62,000 shares were traded in the counter as against an average daily volume of 1.70 lakh shares in the past one quarter.
The stock hit a low of Rs 333.10 so far during the day, which is also a 52-week low for the counter. The stock hit a high of Rs 346.60 so far during the day. The stock had hit a 52-week high of Rs 578.30 on 4 September 2012.
The stock had underperformed the market over the past one month till 21 June 2013, sliding 19.92% compared with the Sensex's 6.65% fall. The scrip had also underperformed the market in past one quarter, falling 20.73% as against Sensex's 0.10% fall.
The large-cap pharmaceutical company has an equity capital of Rs 211.55 crore. Face value per share is Rs 5.
According to the report, the US Food and Drugs Administration (USFDA) had raised concerns about Ranbaxy Laboratories' Mohali unit.
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The USFDA had reportedly issued a Form 483 to the Mohali facility a few months ago. A Form 483 is issued by the FDA at the conclusion of an inspection to notify the company of objectionable conditions that might be in violation of the US Food, Drug and Cosmetic Act and related laws. However, it does not prevent a company from making regulatory filings from that unit.
Ranbaxy Laboratories' consolidated net profit declined 89.9% to Rs 125.76 crore on 34.2% decline in net sales to Rs 2439.82 crore in Q1 March 2013 over Q1 March 2012. The company said that the profitability in Q1 March 2013 was lower than in Q1 March 2012 primarily because of the base effect. The revenue and profitability in Q1 March 2012 was boosted by contribution from exclusivity drug launches.
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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