Ranbaxy hits new high

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Ranbaxy hits new high

Ranbaxy Laboratories has touched a 52-week high of Rs 545. At 09:59 am, the share was quoting at Rs 543.40, up Rs 17.55, or 3.34% on the NSE. It was trading with volumes of 148,198 shares. Yesterday the share closed up 3.74% or Rs 18.95 at Rs 525.85.

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Ranbaxy Laboratories has touched a 52-week high of Rs 545. At 09:59 am, the share was quoting at Rs 543.40, up Rs 17.55, or 3.34% on the NSE. 

The company has entered into a long-term drug discovery and development agreement with the US-based pharma company Merck in the area of anti-infective medicines. As per the agreement, Ranbaxy will earn over USD 100 million on each drug developed through the collaborative research programme.

According to sources, the company may enter in business Alliance with a Japanese Co, reports CNBC-TV18.
 
It was trading with volumes of 148,198 shares. Yesterday the share closed up 3.74% or Rs 18.95 at Rs 525.85.

Currently the stock is 82.93% above its 52-week low of Rs 297.05.