Brokers' group to ask Sebi to probe Ranbaxy trades

The president of a brokerage association is planning to formally request that market regulator

RELATED ARTICLES

Sebi investigate trading in Ranbaxy Laboratories Ltd shares in the days leading up to its acquisition by Sun Pharmaceutical Industries.

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

"Because there was such kind of price movement before the deal was announced, we have decided to check with the regulator," Naresh Tejwani, president of the Association of National Exchanges Members of India (ANMI) said on Wednesday.

"We will write to them by the end of the day to investigate into the matter."

A Ranbaxy spokesman declined to comment.

A spokesman for market regulator Securities and Exchange Board of India also declined to comment.

Sun Pharmaceutical did not immediately respond to requests for comment.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The US can no longer take India for granted, as Kerry’s visit shows

    Despite the feel good factor in Indo-US ties, not the least surprising given BJP’s long term support for free market and laissez-faire economy, the

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Why cleanliness is a vital human right

I have spent the past few months in India witnessing ...

Parvez Imam

Tourism agenda with a colonial undertone

Tourism is supposed to bring in foreign exchange and provide ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture