The stock of Strides Arcolab will hog limelight as the company has received approval from the UK Medicines and Healthcare Products Regulatory Agency to market generic buspirone hydrochloride tablets, which are used for treatment of anxiety. The pharma company has been given the nod by the UK authority to sell 5 mg and 10 mg strength tablets. The company has posted a profit of ₹97.4 crore for the December quarter on revenues of ₹242 crore.
Kotak Bank, ING Vysya merger gets CCI nod
Shares of Kotak Mahindra Bank and ING Vysya Bank may see buying interest, as the proposed ₹15,000-crore merger deal between them has received the Competition Commission’s approval. According to the deal, for every 1,000 shares held by the shareholders of ING Vysya, 725 shares of Kotak Bank will be allotted to the shareholders of ING Vysya. The merger would make Kotak Mahindra Bank the country’s fourth largest private bank.
Birla Corp coal bid gets Court approval
The Delhi High Court on Friday allowed Birla Corp Ltd to bid for other coal blocks even as its bid for the Bicharpur block was rejected on technical grounds. The High Court asked the government not to encash the company’s bank guarantee of ₹2 crore till the next hearing. The company's shares will remain in focus, as it can now participate in the auction. Current rules prohibit a company to bid in any other auction for one year if it is disqualified in a bid.