Sun Pharma, Ranbaxy shares rise as court lifts stay on merger
May 26 2014 , Mumbai
The Andhra Pradesh High Court last month ordered an "interim status quo" on the deal, pending a decision on a petition for a probe into alleged insider trading. The petition was filed in late April by two individuals who requested that the court ask the market regulator Sebi and the two main stock exchanges to halt the deal and order a probe.
Shares in Sun Pharma gain as much as 3.88 percent, while Ranbaxy jumps as much as 4.5 percent.