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

  • Trade policies must not ring fence specific industry sectors

    Within days of the government setting a floor price for import of steel products to thwart countries such as China from undercutting local mills, gove

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Tushar Gandhi

A democracy must stand up for its people

We are the world’s most populous dem­ocracy, but behave in ...

Purnendu Ghosh

A curious and an innovative mind

Curiosity is hard-wired into our psyche. We all recognise that ...

Shona Adhikari

A good time for European art auctions

This week, we bring you interesting art news and the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture