Dr Reddy’s shares rise on takeover rumours

Dr Reddy’s shares rise on takeover rumours
Comment E-mail Print Share
First Published: Thu, Sep 10 2009. 11 27 PM IST
Updated: Thu, Sep 10 2009. 11 27 PM IST
Hyderabad: Shares of Dr Reddy’s Laboratories Ltd jumped to a year’s high in heavy intraday trading on Thursday on speculation of a takeover, two traders said.
A spokesman for the company denied any such moves. “The promoters have no intention of diluting their stake in the company and it is purely a market speculation,” he said.
Shares of the company surged 7.48% to Rs851.55 before settling down to end the day at Rs821.15, up 3.65%, on the Bombay Stock Exchange (BSE).
Comment E-mail Print Share
First Published: Thu, Sep 10 2009. 11 27 PM IST
More Topics: Dr Reddys | Shares | BSE | Money Matters | Equities |