FIIs hike stake in Strides Arcolab

Foreign institutional investors (FIIs) have bought nearly 1 percentage of stake in pharmaceutical company -- Strides Arcolab -- through open market transactions. Goldman Sachs and Morgan Stanley have collectively purchased 626,212 equity shares representing 1.05% stake in the company in past two trading sessions. Of total, Goldman Sachs Investments Mauritius has bought 300,000 shares at Rs 626.28 per share, while Morgan Stanley Asia (Singapore) PTE purchased 326,212 shares at Rs 623.62 per share.

As on March 31, 2014, the promoters holding in the company stood at 27.67 % while Institutions and Non-Institutions held 51.95 % and 20.38 % respectively.

Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures wide range of IP-lead niche pharmaceutical products with an emphasis on sterile injectables.