Sebi to ask stock exchanges for trading data in Ranbaxy shares

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 shares had surged 24 percent in the three trading sessions leading up to the announcement on Monday that Sun Pharmaceutical 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.

EDITORIAL OF THE DAY

  • Government must wake up to the woes of electricity generators

    India is not staring at a power crisis yet, but an estimated 46,000 mw of power capacities are at risk today.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Nigavekar

Moocs will not replace traditional education

I am revisiting the topic of massive open online course ...

Zehra Naqvi

Minimalism: declutter your life

When you imagine an ideal place to live, you think ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture