Pharma CEO kin stocking up on Ranbaxy shares

Little has happened in the past few months to make investors fancy the Ranbaxy stock.

However that has not stopped the relative of the CEO of one of India’s biggest pharma companies from buying the stock in the market. One broker said that this person is buying Ranbaxy shares in anticipation of a big announcement, which could include delisting of the stock.

On September 16, the Ranbaxy stock declined 30% after US Food and Drug Administration sanctioned an import ban on one of the company’s units in Mohali. Since then the stock has recovered 34% to Rs 426 aided large purchases from this investor.