Shares of Strides Arcolab and Shasun Pharmaceuticals gained on Monday after the board of directors of both the companies have approved a scheme of amalgamation between the two companies. The combination creates a vertically integrated pharma company of scale with strong presence in Front-ended Regulated Markets Finished Dosages, Emerging Markets Branded Generics, Institutional Business, Active Pharmaceutical Ingredients and Contract Research and Manufacturing Services.

Shares of Strides Arcolab gained Rs 42.2, or 6.57%, to trade at Rs 685. The total volume of shares traded was 234,339 at the BSE (3.06 p.m., Monday).

Shasun Pharmaceuticals shares gained Rs 1.15, or 0.59%, to trade at Rs 197.65. The total volume of shares traded was 1,040,826 at the BSE (3.07 p.m., Monday).