Strides Arcolab gains as Macquarie Bank acquires stake in company

Strides Arcolab is currently trading at Rs. 551.95, up by 7.50 points or 1.38% from its previous closing of Rs. 544.45 on the BSE. The scrip opened at Rs. 549.10 and has touched a high and low of Rs. 567.85 and Rs. 549.10 respectively. So far 109302 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. 559.20 and Rs. 451.00 respectively. The current market cap of the company is Rs. 3296.96 crore. The promoters holding in the company stood at 27.67%, while Institutions and Non-Institutions held 51.95% and 20.38% respectively. Macquarie Bank has purchased 5 lakh shares of Strides Arcolab through an open market transaction. The shares were purchased at an average price of Rs 548 a piece on National Stock Exchange (NSE) on April 28, 2014. On the other hand, Janus Overseas Fund has sold 5.12 lakh shares of the company at Rs 545.67 a piece on NSE. 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.