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Shares of Strides Arcolab recovered early losses on fag-end buying in an overall strong stock market today, rising over one per cent.
After falling 5.4 per cent to Rs 1,090.80 in intraday at the BSE, shares of Strides later recovered the lost ground and finally ended at Rs 1,168.30, up 1.31 per cent.
At the NSE, the stock settled with a gain of 1.47 per cent at Rs 1,170.35.
The government yesterday rejected proposal from Strides Arcolab for issuing shares to non-resident and resident equity shareholders of Shasun Pharmaceuticals Ltd under a scheme of merger.
Proposals for foreign direct investment amounting to around Rs 4,000 crore by four pharma and medical devices firms, including Torrent Pharmaceuticals and Biocon's research services arm Syngene, were yesterday approved by the government.
In the stock market, the BSE Sensex ended at 27,115.83, up 283.17 points.
