The Securities and Exchange Board of India is looking into the possibility of price manipulation in the shares of Ranbaxy Laboratories [Get Quote].

Sources familiar with the developments said a couple of market intermediaries may find the going tough, with the market regulator asking for data on the share price movements before the announcement of Daiichi-Sankyo's acquisition of the Ranbaxy promoters' stake last week.

When contacted, a Sebi official said that the regulator was looking into the unusual movement in the stock price before the deal was announced. Sebi is scheduled to hold a board meeting on June 20.

The share price of the country's top drug maker rose 3.86 per cent to Rs 526.40 on June 9, two days before the company announced its deal with Daiichi. The benchmark Sensex had plummeted 506 points the same day.

The Ranbaxy stock rose 6.52 per cent to Rs 560.75 the next day when the Sensex fell 177 points.

However, the stock ended almost flat at Rs 560.80 the day the deal was announced on Friday. On Monday, it settled at Rs 567.75 -- up merely 0.15 per cent.

Daiichi-Sankyo, which announced an agreement to acquire 34.8 per cent in Ranbaxy from its promoters, made an open offer to buy another 20 per cent for up to Rs 6,818.65 crore. The offer is scheduled to open on August 8 and close on August 27.