Shares of Sun Pharmaceutical increased by 2 per cent and Ranbaxy rises by 3.7 per cent
Drug Controller General of India to inspect the drug manufacturing plant of Sun pharmaceutical industries
Mumbai: Shares in Sun Pharmaceutical Industries gain 2 per cent and Ranbaxy Laboratories adds 3.7 per cent. India's foreign investment promotion board (FIPB) approves the transaction between the companies.
The approval makes it closer to remove one more regulatory hurdle for the merger, analysts say. Sun Pharma agreed to buy Ranbaxy in a $3.2 billion in April.
( Source : reuters )
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