Trading volumes in Ranbaxy shares saw a sudden spurt ahead of the buyout announcement, and witnessed another sharp jump on Wednesday. The Ranbaxy counter saw average daily trading volumes of 2-4 lakh shares until May 29 on the BSE, which suddenly jumped to 10.69 lakh shares. The NSE recorded a trading volume of over 31 lakh shares on May 30, which continued to rise sharply in subsequent sessions.
On the BSE, volumes again spurted from June 5 onwards when more than 10 lakh Ranbaxy shares changed hands. The following two sessions also saw sizeable trading volumes. However, on June 10, the Ranbaxy counter saw 38.31 lakh shares traded on the BSE and 97.51 lakh shares on the NSE. The sudden spurt in trading volume also saw Ranbaxy?s two-week average trading quantity jump to 21.11 lakh shares.
The stock price gained 8.07% in a week, while over a period of one month the stock gained 19.46%. Ranbaxy stock closed flat on Wednesday at Rs 560.80, from the previous close of Rs 560.75. Intra-day, it touched a 52-week high of Rs 592.70 following the announcement of the deal, which also sparked huge trading volumes on both bourses. The counter clocked over 1.19 crore shares on the BSE and over 2.85 crore shares on the NSE.