Ranbaxy Laboratories surged 4.83 per cent to close at Rs 263.85 based on reports that the US Department of Justice (DoJ) may withdraw the motion against the firm next week, which was initiated in a local US court. Besides, the government on Friday approved Daiichi Sankyo’s investment in Ranbaxy.
Daiichi has been given the green light to buy 34.8 per cent from the promoters along with an open offer for a further 20 per cent from the authorities. Ranbaxy touched an intraday high of Rs 274.7 and a low of Rs 254, with trading volumes of 32,62,773.