MUMBAI: Shares of domestic pharma major Ranbaxy Laboratories today touched a 52-week low of Rs 250.50 with analysts saying that it is the effect of a series of negative news chasing the scrip for the past few weeks.

Shares of company settled at Rs 255.85, down 6.08 per cent on the Bombay Stock Exchange. Amid weak market sentiments, the scrip dipped to a 52-week low of Rs 250.50, down eight per cent from Friday's close of Rs 272.40. Over 36.20 lakh shares changed hands on the BSE.

Marketmen feel that weak global cues and sinking investor sentiments have pulled the scrip down. "The scrip has taken a downslide since the promoters decided to sell its stake to Japanese drug firm Daiichi Sankyo.

With the import ban imposed by the US Food and Drug Administration and other litigation charges brought against the company, the scrip has taken a hit," Ashika Stock Brokers Research Head Paras Bodhra said.

Earlier this month, USFDA had imposed an import ban on 30 drugs manufactured at companies' two sites Dewas and Ponta Sahib. Following the ban, the (US) President's Emergency Plan for AIDS Relief (PEPFAR) also suspended funding for three of its generic HIV/AIDS drugs.