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.