Dai-ichi Kakaria shares rises after HC's decision favouring Daiichi Sankyo

The Delhi High Court’s decision favouring Daiichi Sankyo in its $500-million dispute with Ranbaxy promoters Malvinder and Shivinder Singh lifted the fortunes of namesake Dai-Ichi Karkaria, a BSE-listed firm with no connection to the Japanese pharma company. As soon as the court verdict was announced around 2:30 pm, shares of
 
Dai-Ichi Karkaria rallied close to 8 per cent. The stock pared some gains to end 3 per cent higher as traders, who were quick to react to the court ruling, realised the mix-up.