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Sun Pharma, Ranbaxy rise 2% post completion of merger

Investors continued to buy shares of Sun Pharmaceutical Industries and Ranbaxy Laboratories on Wednesday after the merger of Ranbaxy with itself has been consummated by Sun following receipt of requisite approvals. Both stocks gained more than 2 percent intraday.

March 25, 2015 / 13:25 IST
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Investors continued to buy shares of Sun Pharmaceutical Industries and Ranbaxy Laboratories on Wednesday after the merger of Ranbaxy with itself has been consummated by Sun following receipt of requisite approvals. Both stocks gained more than 2 percent intraday.

In a filing to the BSE, the company said all the requisite approvals have been received for the merger of Ranbaxy into Sun Pharma effective from the appointed date of April 1, 2014.

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It further said the approvals received from the respective High Courts have been filed by Ranbaxy and Sun Pharma with the respective Registrar of Companies today.

"With these filings the merger of Ranbaxy into Sun Pharma has been consummated," the company said.