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Ranbaxy faces ratings downgrade

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  • Published On: July 15, 2008
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Although India's biggest drug-maker Ranbaxy Laboratories has refuted charges levelled against it by the US Department of Justice, it looks like the markets have not bought the reasoning. Ranbaxy stock is down 25 per cent in the last two trading sessions, which has shaved off Rs 5000 crore of its market cap. Furthermore, leading brokerages have slammed the stock.
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