Ranbaxy Laboratories has jumped nearly 7 per cent in afternoon trade after the government approved Daiichi''s buyout of the biggest Indian pharma company. Finance Minister P Chidambaram on Friday disclosed the FIPB nod for the Ranbaxy deal. The stock had opened higher today on reports the US Department of Justice may withdraw the motion against the company next week in a local court in the US. The total FDI flow into India on Daiichi''s Ranbaxy buy is Rs 21,500 crore.
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