Photo: Pradeep Gaur/Mint
Photo: Pradeep Gaur/Mint

Ranbaxy’s stock market stint

Shares of Ranbaxy, which traded at Rs4.87 in January 1991, closed at Rs859.90 apiece on 1 April

Ranbaxy Laboratories was started in 1937 as a small medicine-distribution business in Amritsar by Ranjit Singh and Gurbax Singh. In 1952, Bhai Mohan Singh became the promoter of the company. The firm was officially incorporated in 1961 and went public in 1962.

In 1989, Parvinder Singh, the eldest son of Bhai Mohan Singh, got the company as part of A family settlement. Shares of Ranbaxy, which traded at 4.87 in January 1991 (data prior to 1991 was not available), closed at 859.90 apiece on 1 April.

Starting on Monday, following the completion of the merger of Ranbaxy Laboratories with Sun Pharmaceutical Industries, shares of Ranbaxy were suspended for trade.

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