Strides Arcolab slips in volatile trade

Strides Arcolab fell 0.96% to Rs 928.85 at 12:05 IST on BSE, after Morgan Stanley Asia (Singapore) Pte sold 0.63% stake in the company yesterday, 20 January 2015.

Meanwhile, the BSE Sensex was up 110.06 points, or 0.38%, to 28,894.73

On BSE, so far 39,580 shares were traded in the counter, compared with an average volume of 85,775 shares in the past one quarter.

The stock was volatile. The stock lost as much as 3.07% at the day's low of Rs 909.05 so far during the day. The stock rose as much as 0.97% at the day's high of Rs 946.95 so far during the day. The stock hit a 52-week high of Rs 999 on 5 December 2014. The stock hit a 52-week low of Rs 343.80 on 26 February 2014.

The stock had underperformed the market over the past one month till 20 January 2015, rising 4.77% compared with Sensex's 5.16% rise. The scrip, however, outperformed the market in past one quarter, surging 44.61% as against Sensex's 8.91% rise.

The mid-cap company has an equity capital of Rs 59.57 crore. Face value per share is Rs 10.

Morgan Stanley Asia (Singapore) Pte sold 3.75 lakh shares or 0.63% stake at an average price of Rs 943.51 per share in Strides Arcolab in a bulk deal on BSE yesterday, 20 January 2015.

Strides Arcolab's net profit surged 15146.4% to Rs 338.47 crore on 184.5% growth in total income to Rs 641.52 crore in the quarter ended 30 September 2014 over the quarter ended 30 September 2013.

Strides Arcolab is a global pharmaceutical company headquartered in Bangalore, India that develops and manufactures a wide range of IP-led niche pharmaceutical products. The company has 8 manufacturing facilities in more than 75 countries in developed and emerging markets.

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