Shasun Pharmaceuticals, a pharmaceutical contracting organization, witnessed a rise in share price on Thursday after the Madras High Court sanctioned the Scheme of Amalgamation with Strides Arcolab pursuant to its order dated Jun. 16, 2015.

The Scheme of Amalgamation will be effective on receipt of the approval from the High Court of Bombay, Foreign Investment Promotion Board and other approvals as may be required and filed a copy of the order of High Courts with respective Registrar of Companies, the company said.   

Shares of Shasun Pharmaceuticals are trading at Rs 400.25, up Rs 6, or 1.52% at the Bombay Stock Exchange (BSE) on Thursday at 9:45 a.m. The scrip has touched an intra-day high of Rs 407.20 and low of Rs 397.10.

Total volume of shares traded on the bourses today was lower by 36.48% to 172,400 compared with 22-day average volume of 271,415.