Strides Arcolab has rallied over 6% at Rs 987, also its record high, on back of heavy volumes. A combined around 150,000 shares have already changed hands on the counter in opening deals against an average 200,000 shares that were traded daily in past two weeks.
The stock of pharmaceutical company has outperformed the market by gaining 18.5% in past three trading sessions on the BSE compared to 1.5% fall in benchmark Sensex.
Arun Kumar, the promoter of Strides Arcolab, has recently acquired a minority stake in Skanray Technologies, a Mysore-based medical devices company that specialises in high-frequency X-ray systems, dental digital X-ray and imaging, cardiology, critical care products and remote health monitoring.
According to filing on the BSE, Larsen & Toubro (L&T) has agreed to sell its medical equipment business to privately held Skanray Healthcare, a fully owned subsidiary of Skanray Technologies, for an undisclosed amount.