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Shares of Sun Pharmaceutical Industries and Ranbaxy Laboratories were trading higher by 3% each on the bourses ahead of record date set for the merger.
Last week, after announcement of closure of merger deal with Ranbaxy, Sun Pharma said that Ranbaxy will be delisted from the Indian Stock Exchanges.
Today is the last trading day of Ranbaxy Laboratories on the bourses. On Monday, April 6, 2015, Sun Pharma stock will turn ex-scheme of amalgamation on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Sun Pharma has fixed April 07, 2015 as the record date in order to determine the names of the shareholders of erstwhile Ranbaxy who would be entitled to receive 8 ( eight) equity shares of Re 1 each of the company for every 10 (ten) equity shares of Rs 5 each of erstwhile Ranbaxy held.
At 1107 hours, shares of Sun Pharma were trading 3% higher at Rs 1,052 on the BSE. The stock hit a high of Rs 1,053 and low of Rs 1,020 so far. Ranbaxy Laboratories, too, is up nearly 3% at Rs 837, after hitting high of Rs 838 on the BSE during intra-day trade.
Last week, after announcement of closure of merger deal with Ranbaxy, Sun Pharma said that Ranbaxy will be delisted from the Indian Stock Exchanges.
Today is the last trading day of Ranbaxy Laboratories on the bourses. On Monday, April 6, 2015, Sun Pharma stock will turn ex-scheme of amalgamation on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Sun Pharma has fixed April 07, 2015 as the record date in order to determine the names of the shareholders of erstwhile Ranbaxy who would be entitled to receive 8 ( eight) equity shares of Re 1 each of the company for every 10 (ten) equity shares of Rs 5 each of erstwhile Ranbaxy held.
At 1107 hours, shares of Sun Pharma were trading 3% higher at Rs 1,052 on the BSE. The stock hit a high of Rs 1,053 and low of Rs 1,020 so far. Ranbaxy Laboratories, too, is up nearly 3% at Rs 837, after hitting high of Rs 838 on the BSE during intra-day trade.
