Shares of Strides Arcolab jumped as much as 5 per cent on Friday after the company announced that the High Court of Bombay has approved the Scheme of Amalgamation involving merger of Shasun Pharmaceuticals with the company. (Photo: Reuters)
Shares of Strides Arcolab jumped as much as 5 per cent on Friday after the company announced that the High Court of Bombay has approved the Scheme of Amalgamation involving merger of Shasun Pharmaceuticals with the company.
At 2.27 pm, Strides Arcolab shares were trading 3.26 per cent higher at Rs 1,202.55. It opened at Rs 1,190 and had touched a high and low of Rs 1220 and Rs 1150, in trade so far.
Cheering the news, shares of Shasun Pharmaceuticals were also trading 5.57 per cent higher at Rs 369.40 apiece at the same time. The scrip opened at Rs 352 and had touched a high and low of Rs 374 and 349.15.
In a BSE filing, Strides Arcolab said, “The Scheme of Amalgamation shall be effective post receipt of approval of Foreign Investment Promotion Board and on filing of a copy of the Order with Registrar of Companies, Bombay.”
Meanwhile, the BSE Sensex was up 96 points at 26,327 at the same time.
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