Ranbaxy, Tata Power slip post earnings

Despite reporting a turnaround in Q4 numbers, Ranbaxy has tumbled this morning after reporting the numbers yesterday. The stock has tumbled over 7% to Rs 421.

Ranbaxy Laboratories posted a consolidated net profit of Rs 262 crore for the fourth quarter ended December 2009, compared to a net loss of Rs 680 crore in the year-ago quarter.

Meanwhile, Tata Power Company which reported 72% drop in consolidated net profit at Rs 152.73 crore for the December quarter, over the year-ago period has declined 2% to Rs 1,237.