Mumbai, Aug 8: Shares of drug major Ranbaxy Laboratories on Thursday surged nearly 28 per cent, after several brokerages upgraded the company following its June quarter performance.
The stock closed at Rs 359.40 after surging to as high as Rs 377.70 during intra-day deals. Despite today’s sharp upswing, the stock is still down about 30 per cent year-to-date.
The company narrowed down its consolidated loss at Rs 524.24 crore for the second quarter ended June 30, on account of foreign exchange transactions and loss of goodwill in its European subsidiaries.
【News source】
Ranbaxy Laboratories extends rally, m-cap rises by Rs 3,279 cr
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