The Economic Times daily newspaper is available online now.

    Ranbaxy hits 52-week high on UBS upgrade

    Synopsis

    Shares of Ranbaxy Laboratories gained momentum for fourth consecutive session to hit 52-week high after UBS raised its target price.

    ET Online
    MUMBAI: Shares of Ranbaxy Laboratories gained momentum for fourth consecutive session to hit 52-week high after UBS raised its target price.

    According to the brokerage, the stock is a cheaper way to buy Sun Pharmaceuticals. It will benefit from strong outlook of Sun Pharma.

    It has raised target price to Rs 784 from Rs 600 earlier.

    Sun Pharma recently announced acquisition of Ranbaxy for $4 billion. The former’s shareholders have approved merger and approved the share swap-ratio as well.

    At 09:45 a.m.; the stock was at Rs 655, up 1.55 per cent, on the BSE. It gained 1.96 per cent to touch 52-week high of Rs 657.65 in trade today.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in