Sun Pharma today clarified to the stock exchanges that its promoter Dilip Shanghvi did not buy shares sold by Daiichi Sankyo in Sun Pharma.
On Tuesday, Daiichi Sankyo exited the company after selling its stake in Sun Pharma, shares of which it received after the merger of Sun Pharma and Ranbaxy Laboratories. There were roumours that Dilip Shanghvi had picked up these shares.
An increase in shareholding by the promoters is always viewed as positive by the markets. The shares of Sun Pharma were last trading at Rs 967 on the NSE.
It was in 2008 that Daiichi had picked a stake in Ranbaxy Laboratories from the main promoter the family which had sold their stake in the company.
At the time of the merger, Daiichi held a 63 per cent stake in Ranbaxy. After the merger it received shares of Sun which it has now sold.
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