Theme Layout

Boxed or Wide or Framed

Theme Translation

Display Featured Slider

Featured Slider Styles

Boxedwidth

Display Trending Posts

Display Instagram Footer

yes

Dark or Light Style

SEBI to ask stock exchanges for trading data on Ranbaxy shares


A general view of the office of Ranbaxy Laboratories is pictured at Gurgaon, on the outskirts of New Delhi, June 13, 2013. REUTERS/Adnan Abidi/Files

(Reuters) - Securities and Exchange Board of India (SEBI) will ask the country's stock exchanges for trading details on Ranbaxy Laboratories Ltd and Sun Pharmaceutical shares before the companies announced a merger on Monday, a senior source at the regulator said on Wednesday.

Ranbaxy (RANB.NS) shares had surged 24 percent in the three trading sessions leading up to the announcement on Monday that Sun Pharmaceutical (SUN.NS) had agreed to buy it for $3.2 billion.

"We have received multiple complaints. We will ask stock exchanges on details of buy and sell trades in both Ranbaxy and Sun shares," said the source at SEBI.

He declined to be identified because he was not allowed to talk to media about the requests.

Exchange officials at National Stock Exchange of India Ltd and BSE Ltd were not immediately reachable.
QuickEdit

You Might Also Like

No comments

Post a Comment

Follow @MyInstantSearch