Strides Arcolab recovers slightly from steep fall - The New Indian Express

Strides Arcolab recovers slightly from steep fall

Published: 06th December 2013 12:18 PM

Last Updated: 06th December 2013 12:18 PM

Strides Arcolab, a pharmaceutical company manufacturing IP-led niche products, recovered on Friday after sharp fall of 14.5% in previous session.

Earlier on Thursday, the company plunged after it has completed sale of its Agila Specialties Division to Mylan Inc. for a total consideration of up to USD 1.75 billion. Since the initial announcement of this transaction the board of directors approved final transaction terms to include; a hold back of USD 250 million contingent upon satisfaction of certain regulatory conditions. Shares ofthe companyare trading at Rs 854.85, up Rs 11.85, or 1.41% at the Bombay Stock Exchange (BSE) on Friday at 11:22 a.m.The scrip has touched an intra-day high of Rs 881 and low of Rs 840. The total volume of shares traded at the BSE is 84,586.In the earlier session, the shares declined 14.5%, or Rs 143, at Rs 843. Currently, the stock is trading down 28.76% from its 52-week high of Rs 1,200 and above 54.68% over the 52-week low of Rs 552.65.

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