Meanwhile, the BSE Sensex was up 12.61 points, or 0.08%, at 15266.78.

On BSE, 4.95 lakh shares were traded in the counter. The scrip had an average daily volume of 4.03 shares in the past one quarter.

The stock hit a high of Rs 566 and a low of Rs 549 so far during the day. The stock had a 52-week high of Rs 592.70 on 11 June 2008 and a 52-week low of Rs 299.90 on 22 January 2008.

The scrip had outperformed the market over the past one month till 12 June 2008, adding 9.74% compared to the Sensex’s 10.18% decline. It had also outperformed the market in the past one quarter, rising 17.11% compared to Sensex’s 3.24% fall.

India’s biggest drugmaker by sales has an equity capital of Rs 186.62 crore. Face value per share is Rs 5.

The current price of Rs 561.55 discounts its Q1 March 2008 annualised EPS of Rs 11.09, by a PE multiple of 50.63.

According to reports, Pfizer Inc may counter bid a $4.6 billion offer by Japan's Daiichi Sankyo Co for 65% in Ranbaxy held by institutions and public shareholders.

Daiichi Sankyo struck a deal on Wednesday, 11 June 2008 worth up to $4.6 billion to take control of Ranbaxy. The Japan’s third biggest drug maker agreed to acquire 34.8% from Ranbaxy's founding Singh family and then make an open offer for up to 20%.

The reports further said Pfizer had held talks with the Ranbaxy founders for a possible acquisition a year earlier and may now offer to buy out the stake held by lenders and other investors.

The net profit of Ranbaxy Laboratories declined 10.3% to Rs 103.42 crore on 0.1% fall in net sales to Rs 987.29 crore in Q1 March 2008 over Q1 March 2007.

Ranbaxy Laboratories is India's largest drug maker by sales. It has manufacturing facilities in eight countries.