L&T surged 2 percent after bagging Mumbai Trans Harbour Link project.

Lifesciences on Saturday said it has entered into a definitive agreement to buy India branded generics business of Strides Shasun for an aggregate cash
consideration of Rs 500 crores.

The transaction is subject to customary closing conditions and parties intend to close the transaction by November 30th, 2017.

Strides’ India branded generics business comprises of a portfolio of 130 plus brands in the domains of neurology, psychiatry, nutraceuticals and gastro.

As per the terms of the agreement, Eris will acquire the marketing and distribution rights for the said portfolio of products in India, along with the
employees forming part of the business. Strides will retain the global rights to the products.

The BSE Sensex opened higher on Monday against the previous session’s closing.  The broader NSE’s Nifty inched down in the morning hours. The Indian rupee was trading marginally lower against the US dollar in morning trade. The shares of L&T, NTPC, ONGC rose, whereas those of Cipla and ICICI Bank fell.

9.29am: BSE Sensex traded higher by 57.31 points, or 0.17%, to 33,400.11, while the Nifty 50 edged down 4.55 points, or 0.04%, to 10,279.05.

9.25am: Larsen & Toubro Ltd rose 1.5% to Rs1,240 after the company said it got order worth Rs8,650 crore to build Mumbai trans-harbour link.

9.23am: Biocon Ltd rose 5.2% to Rs414.70 after the company said it got clean chit from the US FDA for Bengaluru unit.

source: livemint.com