Business Standard

Strides Arcolab gains as government clears Mylan's deal

Prime minister Manmohan Singh on Friday cleared the FDI of Strides Arcolab-Mylan Rs 9,920 crore ($1.6 billion) deal.

Read more on:    Pharma | Mylan | Strides Arcolab
Related News

is trading higher by 2% at Rs 813 on reports that Prime minister Manmohan Singh on Friday cleared the foreign direct investment (FDI) of Strides Arcolab- Rs 9,920 crore ($1.6 billion) deal.

On February 28 this year, US-based Mylan and Bangalore-based Strides Arcolab signed the agreement under which the US drug major was to acquire Agila Specialties, the injectible medicine business of Strides.

Now, the deal will be brought to the Cabinet Committee on Economic Affairs (CCEA) under existing policy to get the final approval.

The stock opened at Rs 803 and touched high of Rs 835 on BSE. A combined 179,299 shares change hands on the counter till 1035 house on BSE and NSE.
 

Read more on:   
|
|

Read More

Banking shares extends fall, Bank Nifty hits 19-month low

ICICI Bank, BOB, Axis Bank, PNB, Canara Bank, BOI, YES Bank and Union Bank of India are down 3-5% on NSE.

Quick Links

 

Market News

NSEL payments: HC orders creation of three-member monitoring panel

The three-member panel will negotiate with borrowers, FTIL and EOW on liquidation of borrowers' assets

El Niño worries inflation managers

RBI has decided to consider inflation based on new series CPI in which half of the weight is for food, beverages and tobacco

Sensex eyes Summit 23k as indices hit new peaks

Analysts expect gains to be limited in the near term as companies post their financial results and India continues its five-week long election ...

Traders trim positions ahead of poll results

Rollovers decline; open interest drops

Sebi's Draft Fatca norms: Greater scrutiny ahead for high-value US a/cs

Individual accounts with holdings of more than $1 mn will come under greater scrutiny; those with balances less than $50,000 will be exempt from ...

Back to Top