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Ranbaxy stock nosedives 20% on USFDA restrictions

Ranbaxy stock nosedives 20% on USFDA restrictions
Shares of Ranbaxy Laboratories on Friday slumped as much as 20 per cent in the morning trade after the USFDA prohibited the company from producing and distributing drugs for the American market from its Toansa plant in Punjab. After a weak opening, shares of the drug firm further tumbled 19.69 per cent to Rs 335 on the BSE. On the NSE, the stock dived 19.75 per cent to Rs 335. The company's market value tanked by Rs 3,156 crore to Rs 14,520 crore. "With this import alert, the operations of the ...
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