Janus Overseas Fund buys 12.3 lakh Strides Arcolab shares

Written by PTI | Mumbai | Updated: Apr 29 2014, 03:24am hrs
Janus Overseas Fund, a shareholder of Strides Arcolab, today offloaded 12.31 lakh shares of the pharmaceutical company for an estimated Rs 67.2 crore.

According to the bulk deal data of the bourses, Janus Overseas Fund sold 7.19 lakh shares of Strides Arcolab on the BSE. It sold 5.12 lakh shares of the company on the NSE.

The shares were offloaded at an average price of Rs 546 apiece, valuing the transactions at Rs 67.2 crore.

In an separate bulk deal, another Strides Arcolab shareholder Morgan Stanley Asia (Singapore) today picked up 10.55 lakh shares of the drug firm for Rs 57.73 crore.

Separately, Macquaire Bank purchased 5 lakh shares of Strides Arcolab in a transaction worth Rs 27.40 crore.

As on quarter ending March 2013, Janus Overseas Fund shareholding amounted to 2.99 per cent in Strides Arcolab, while Morgan Stanley Asia (Singapore) held 6.66 per cent stake in the company.

For the same quarter, Macquaire Bank held 2.82 per cent stake in Strides Arcolab.

Last week, Strides Arcolab manufacturing facility at Bangalore had been approved by the US health regulator after a successful audit of the plant.

The KRS Gardens facility in Bangalore manufactures oral dosage forms such as tablets, capsules (both hard gelatine and soft gelatine) and sachets.

The last US Food and Drug Administration inspection and approval for this facility was in the year 2011.

Shares of Strides Arcolab today gained 3.37 per cent to end the day at 544.45 apiece, on the BSE.