Shares of Piramal Healthcare rose as much as five percent in a weak market on Wednesday on market talk of Indian drug maker was in talks to sell the company to a global pharmaceutical major.
French drugs maker Sanofi-Aventis and Pfizer was in talks to buy Piramal Healthcare, local TV channels reported on Wednesday.
A spokesman for the Piramal refused to comment on.
For 951 (0421 GMT), shares of Piramal Healthcare, the market value of 2.5 billion, were up 4.9 percent 568.45 rupees, has risen as much as 5.1 percent in the main Bombay market which was down 1.4 percent.
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