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Shares of Cipla and Lupin surged in the morning trade on the bourses today after news reports surfaced that Japan’s biggest drug maker, Takeda Pharmaceutical Co, is in talks to buy either of their pharma businesses.
Cipla opened on a bullish note at Rs 283.90 on the Bombay Stock Exchange and then rose 1.84 per cent to Rs 287.75. On the National Stock Exchange, the stock opened at Rs 283 and then rallied to a high of Rs 287.60, up 1.91 per cent from its last close.
In a similar fashion, shares of Lupin reacted positively to the news, surging by 4.47 per cent to a high of Rs 457.40 on the BSE and rising by 3.37 per cent to Rs 452.80 on the NSE.
Marketmen said the surge in the stocks was largely due to news reports that Takeda has begun talks with both the drug makers.
As per the report, Takeda is very keen on a large buy-out in the country, but there is no certainty that the talks will lead to a conclusive deal.
The surge in both counters was in sharp contrast to the sentiment in the broader market, with the benchmark indices trading in the negative terrain.
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