Strides Arcolab has surged 7% to Rs 323 on reports that the company may sell a part of its non-specialities business.
"Strides is open to selling parts of its business making low-priced generic drugs to fund the expansion of more-profitable specialty drugs operations," reports suggest.
The company sells branded generic drugs in the local as well as other less-regulated markets, and also supplies AIDS, tuberculosis and malaria drugs to multilateral agencies as part of its non-specialty pharmaceuticals business.
The stock hit a high of Rs 329 after opening at Rs 321 on the NSE. A combined 440,000 shares have changed hands on the counter till 1152 hours, against an average around 200,000 shares traded daily in past two weeks.