Strides Arcolab shares gained over 4 per cent on Monday after Sun Phamaceutical Industries and Strides Arcolab announced that they have entered into a definitive agreement related to erstwhile Ranbaxy’s ‘Solus’ and ‘Solus Care’ divisions operating in the central nervous system (CNS) segment in India.
The scrip closed 4.57 per cent up at Rs 1,198.20.
The agreement involves transfer of these two marketing divisions, along with employees to Strides for a consideration of Rs 165 crore. As per IMS July 2015 MAT report, all the products of these two divisions together accounted for approximately Rs 92 crore in sales.
Last one week high and low of the scrip stood at Rs 1,196 and Rs 1,100.80 respectively. The current market cap of the company is Rs 6,961 crore. The promoters holding in the company stood at 27.65 per cent, while institutions and non-institutions held 45.94 per cent and 26.41 per cent, respectively.