Ranbaxy Laboratories fell 2.64% to Rs 480.70 at 13:39 IST on BSE after the company reported 0.25% rise in consolidated net profit to Rs 160.80 crore on 13% rise in consolidated sales to Rs 1829.60 crore in Q2 June 2008 over Q2 June 2007.
The company announced the results during market hours today, 29 July 2008.
The stock touched a high of Rs 490 and a low of Rs 468.10 so far during the day. The stock had a 52-week high of Rs 613.70 on 19 June 2008 and a 52-week low of Rs 299.90 on 22 January 2008.
India's biggest drugmaker by sales has an equity capital of Rs 187.03 crore. Face value per share is Rs 5.
The current price of Rs 480.70 discounts its Q4 March 2008 annualised EPS of Rs 11.09, by a PE multiple of 43.35.
On 16 July 2008, Ranbay’s chief executive Malvinder Singh said in a televised conference that the deal with Japan's Daiichi Sankyo was binding and there was no change in terms. He clarified this after speculation that the deal may be in trouble after the US government’s probe against the company for allegedly forging documents and selling sub-standard products in The US.
On June 11, Japanese drug maker Daiichi Sankyo Daiichi struck a deal worth up to $4.6 billion to take control of Ranbaxy by acquiring 34.8% from Ranbaxy's founders, the Singh family. Subsequently on 16 June 2008, Daiichi-Sankyo launched an open offer to acquire up to 20% stake in Ranbaxy laboratories at a price of Rs 737 each, to the minority shareholders of the company. The offer is scheduled to open on 8 August 2008 and closes on 27 August 2008.
Ranbaxy Laboratories is India's largest drug maker by sales. The company manufactures and markets, generic pharmaceuticals, value added generic pharmaceuticals, branded generics, active pharmaceuticals and intermediates
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