- 'Neutral' ratings on Ranbaxy Laboratories Ltd; Mixed fortunes in regions: HSBCIndia, US seek to better drug-making processesU.S. regulator on India visit calls for greater drug safety collaborationBSE Sensex stays flat, Ranbaxy Laboratories, Sun Pharma Res rise, ABG Shipyard soars 14 pct
Ranbaxy Laboratories Ltd shares gain 3.4 per cent after the New York Attorney General and the US units of the Indian company and Teva Pharmaceutical Industries settled claims that an agreement between the two drugmakers unlawfully restricted competition.
"The settlement is positive for the company and since the settlement amount will not significantly impact the company. We remain neutral on the stock," said Sarabjit Kour Nangra, an analyst tracking the sector at Angel Broking.