Shares in Wyeth Ltd rallied another 10 per cent in trade today, following reports of its merger with Pfizer. The stock was last trading at Rs 798 on the National Stock Exchange.
Pfizer also rallied on Thursday and was up again by 1.59%. In fact, Pfizer hit a 52-week high in trade on Wednesday.
Dealers say there maybe a re-rating of both the stocks following reports of merger. According to reports both Pfizer and Wyeth are attractively valued at the current levels when compared to peers.