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.

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

Market rally sees 50% stocks double since August 2013

About 422 shares of 820 companies from the BSE-500, Mid-cap and Small-cap indices have rallied more than 100%.

Gold premiums fall in absence of fresh import curbs

Higher supplies due to imports in Sept, Oct also hurt

Steel Strips Wheels zooms 20% on heavy volumes

On November 21, Priya Garg, one of the promoters bought 3,370 equity shares of the company through open market.

Atul Auto surges on Birla Mutual Fund stake buy

Birla Mutual Fund acquired 200,000 equity shares of the company at Rs 405/share

Sensex, Nifty remain firm; Metal stocks gain

The 30-share Sensex has gained 131 points at 28,466 and the 50-share Nifty climbed 37 points at 8,515

Back to Top