Strides Arcolab 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-Mylan 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.
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.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%