Zenotech Lab falling on Daiichi's stake
On Thursday the Zenotech Laboratories settled down for 12 per cent on the Bombay Stock Exchange, after the Supreme Court attached the Daiichi-Sankyo's open bid price at Rs 113.62 a share. Shares of the Hyderabad-established Zenotech Lab tolled up by 12.16 per cent at Rs 99.70 on the BSE.
At present the market scrip dwindled by 13.61 per cent for the intra-day low of Rs 98.05. Further the same during the early moments of the day stroked by a month elevation of Rs 119.20.
Moreover in the wider market the Sensex closed at 180.70 points in elevation or by 1.03 per cent, to 17,651.73.
Today the Supreme Court set the Daiichi-Sankyo's open bid rate for Zenotech Laboratories at around Rs 113.62 a share, keeping apart an early array of the Securities Appellate Tribunal which needs the Japanese drug-maker to provide a much higher price.
The open bid rate approximated for Zenotech Labs has been set at Rs 113.62 a share, alongside the offer Rs 160 per share fixed by the SAT for Daiichi-Sankyo to grab an extra 20 per cent stake in the company.