Mylan Laboratories shares falls 11.21% in NYSE, India subsidiary Matrix up 11.85%

The shares of Mylan Laboratories (NYSE: MYL) fell 11.21% to US$19.89. The shares hit an intraday high of US$22.40 and low of US$19.08. The shares opened the day at US$19.58. The stock has a 52 week high of US$23.49 and low of US$18.65.

The company announced the acquisition of Generics Business of Merck KGaA on May 12, 2007 (Saturday). In contrast, Mylan's India unit Matrix Laboratories Ltd closed higher by 11.85% at Rs.224.15. The stock opened the day at Rs.220 and went to hit an intraday high of Rs.229.45 and low of Rs.210.25.

In NSE, 1941861 shares changed hands resulting in a turnover of Rs.4340.84 Lakhs at an average price of Rs.223.54.

Source : Equity Bulls

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