Strides Arcolab spurts as FIIs hike stake in company

Strides Arcolab is currently trading at Rs. 640.00, up by 18.80 points or 3.03 % from its previous closing of Rs. 621.20 on the BSE.

The scrip opened at Rs. 625.95 and has touched a high and low of Rs. 647.50 and Rs. 621.00 respectively. So far 91731 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1050.00 on 05-Dec-2013 and a 52 week low of Rs. 343.80 on 26-Feb-2014.

Last one week high and low of the scrip stood at Rs. 634.10 and Rs. 533.50 respectively. The current market cap of the company is Rs. 3837.81 crore.

The promoters holding in the company stood at 27.67 % while Institutions and Non-Institutions held 51.95 % and 20.38 % respectively.

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.