BackDr Reddy’s shares rise on takeover rumours
1 min read
10 Sep 2009, 11:27 PM IST
Dr Reddy’s shares rise on takeover rumours
Premium
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).
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.
More
Less
Published: 10 Sep 2009, 11:27 PM IST
Next Story
