Sun Pharma, Ranbaxy gain after regulator approves deal

Reuters Market Eye - Sun Pharmaceutical Industries gains 1.4 percent, Ranbaxy Laboratories up 2.8 percent

The Competition Commission of India approved Sun Pharma's $3.2 billion bid to buy Ranbaxy.

Approval to speed up the merger process, say traders.

Only key approval pending now is of U.S. Federal Trade Commission, which will come in due course of time, say analysts.

(Reporting by Abhishek Vishnoi)