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Religare Enterprises isn’t quite sure what it is, or what it wants to become. It has flipped and flopped during its short life, shifting course and strategy in search of cohesion and long-term profit. So far, both remain elusive.
That’s not for want of trying. In 2008 the Indian brothers Malvinder and Shivinder Singh cashed in their chips at pharmaceuticals giant Ranbaxy Laboratories, selling out to Japan’s Daiichi Sankyo for $8 billion.
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