Novartis India shares surge 15% as ChrysCapital-led consortium announces takeover

Shares of Novartis India Limited jumped sharply on Friday after a ChrysCapital-led consortium announced it would acquire the Swiss pharma giant’s entire 70.68 per cent stake in the listed Indian unit, triggering a mandatory open offer for public shareholders. The stock was trading at ₹953.85 on BSE as of midday, up ₹123.40 or 14.86 per cent from Thursday’s close of ₹830.45. The scrip hit the upper price band of ₹996.50 earlier in the session before easing slightly. Turnover stood at ₹80.72 crore on volumes ...