Sun Pharma-Ranbaxy deal increases optimism of more all-stock deals, but risks linger
MUMBAI: Monday's mega pharma buyout involving 100 per cent stock may also turn out to be the last such stock-only transaction for some time to come despite the Reserve Bank of India's prohibition against lending for mergers and acquisitions.
The inability of banks to dole out cash for M&A transactions should ideally serve as a ground for swap deals, but few have happened so far. Experts say the Sun-Ranbaxy transaction has increased optimism that more such deals could take place.
Rupee ends weaker on jitters as elections kick-off
MUMBAI: The rupee ended weaker on Monday in cautious trading as the country kicked off a five-week election process and on importers demand for the greenback.
The rupee's fall was further accelerated as shares fell for a third straight day retreating from record highs hit last week, with the BSE index ending down 0.07 per cent.
Financial markets will remain closed on Tuesday for a local holiday.
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