Ranbaxy surges 21% on Daiichi takeover

The stock touched a new high of Rs 273.35. The stock ended at Rs 277, up 21%.

Around 6 million shares were traded on the BSE today.
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Updated at 1615 Hrs:

Ranbaxy has soared over 6% today on news of Daiichi Sankyo taking complete control of the company.

The stock opened flat at Rs 223. It soon surged 9% to Rs 241. The stock is now trading up 6.5% at Rs 235. Hefty volumes of 801,612 shares have been traded at the counter on the BSE so far.

The largest pharma company in India, Ranbaxy, informed the BSE that Tsutomu Une has been appointed as the chairman of the company while former promoter Malvinder Mohan Singh has submitted his resignation.