Sun pharma increases its stake in Ranbaxy Malaysia

Major drug company Sun Pharmaceutical said it will increase share in its peripheral Ranbaxy Malaysia SDN BHD to 79.5 through purchasing of share.

Sun Pharma said in a filling to the BSE “One of the wholly owned subsidiaries of the company has agreed to increase its shareholding in Ranbaxy Malaysia Sdn Bhd by 8.3 per cent by way of purchase of around 6.66 lakh shares. Ranbaxy Malaysia SDN BHD is an alternate of Sun Pharma, and the company along with one of its wholly owned arms has 71.2% shares prior to the acquisition.

Shares of Sun Pharmaceutical Industries on Thursday closed at Rs 539.40 per scrip on BSE, up 2.59 per cent from its previous close.