Daiichi Sankyo News

The court was hearing a petition filed by Daiichi Sankyo, which is seeking to recover Rs 3,500 crore awarded to it in an arbitration by a Singapore tribunal against the Ranbaxy brothers.

Ranbaxy Laboratories Ltd had allegedly concealed information about proceedings against them by American food and drug department.

The firm has landed in a controversy over alleged regulatory lapses in the transfer of funds to some promoter-linked companies.

The Singh brothers have jointly tendered their resignation to the Board of Fortis Healthcare, which will discuss it in the meeting on February 13.

Shares of Sun Pharmaceutical Wednesday recovered nearly 2 percent to close at Rs 967.15 on BSE a day after the stock took a severe beating following Daiichi Sankyo selling its entire 9 percent stake in the company for Rs 20,025 crore.

Stocks of Sun Pharmaceutical made a comeback at the bourses Wednesday, rising nearly 3 percent, a day after Japanese drugmaker Daiichi Sankyo sold its entire stake of around 9 per cent in the company for Rs 20,025 crore.

The company, which had forayed into the growing Indian pharmaceutical market by buying a majority stake in Ranbaxy Laboratories in 2008 for Rs 22,000 crore, sold over 21 crore shares in Sun Pharma.

Shares of Sun Pharmaceutical on Tuesday plunged nearly 11 percent after Japan's Daiichi Sankyo announced selling its entire holding in the Indian drug major for an estimated Rs 20,420 crore.

Shares of Sun Pharmaceutical Industries Ltd slumped as much as 10.9 percent on Tuesday, heading towards their biggest daily fall since June 2009 after Japan`s Daiichi Sankyo Co Ltd started selling its stake in the Indian drugmaker.