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Shares of Torrent Pharma jumped as much as 4% in Friday's trade as the company is expected to make an announcement on a possible acquisition of the domestic business of Unichem Laboratories on Friday.
Following a positive open at Rs 1,360 against the previous close of Rs 1,325.35, the company shares touched an intraday high of Rs 1,375.70 and a low of Rs 1,301. In terms of equity volume, 0.32 lakh shares exchanged hands on the BSE.
On the other hand, shares of Unichem Laboratories jumped over 5% in intraday trade. After opening at Rs 321.15 against the previous close of Rs 311.45, shares of the drug manufacturer touched an intraday high of Rs 328.35 and a low of Rs 308 on the BSE.
According to market-watchers, the deal is being billed among the largest in the pharma landscape at over Rs 3,000 crore.
Unichem share prices rallied over the past one month from Rs 249.1 on October 3 to Rs 311.45 on November 2, rising by over 25 per cent. Torrent Pharma shares too posted gains during the past one month rising from Rs 1,243.35 to Rs 1,325.35.
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