Ranbaxy Laboratories Excited On USFDA Approval For Stress-Reliever

Ranbaxy LaboratoriesRanbaxy Laboratories gained ground after declaring it got an approval to make and sell Amlodipine Besylate in the United States. Its share price bobbed up 1.82% to Rs 358.25.
The shared price had reached a high of Rs 358.40 and a low of Rs 353.95 during the day. In the last one quarter, the company’s scrip had an average daily volume of 2.71 lakh shares on BSE.
At present level of Rs 358.25, the stock trades at a PE multiple of 26.14 based on its Q1 March 2007 annualized earning per share (EPS) of Rs 13.7.
In the last one month to 20 June 2007, the scrip had slipped 11.77% to Rs 351.85. It came down 10.15% to Rs 351.85 in the past three months to 20 June 2007. The stock touched a 52-week high of Rs 445 on 18 January 2007 and a 52-week low of Rs 305.50 on 7 March 2007.
Ranbaxy’s net profit arose 129.5% to Rs 115.28 crore in Q1 March 2007, as against Rs 50.24 crore in the same period last year. Sales rose 25.8% to Rs 988.17 crore in Q4 March 2007 (Rs 785.52 crore).
Ranbaxy Laboratories is an incorporated, research based, global pharmaceutics making a broad variety of generic medicines. The company operates clients in more than 125 countries and has a growing worldwide collection of associations, joint ventures and coalitions.