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Business News/ Market / Stock-market-news/  Janus Overseas Fund sells 1.23 million Strides Arcolab shares
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Janus Overseas Fund sells 1.23 million Strides Arcolab shares

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

Separately, Macquaire Bank purchased 0.5 million shares of Strides Arcolab in a transaction worth Rs27.40 crore. Photo: MintPremium
Separately, Macquaire Bank purchased 0.5 million shares of Strides Arcolab in a transaction worth Rs27.40 crore. Photo: Mint

Mumbai: Janus Overseas Fund, a shareholder of Strides Arcolab, on Monday offloaded 1.23 million shares of the pharmaceutical company for an estimated 67.2 crore.

According to the bulk deal data of the bourses, Janus Overseas Fund sold 0.71 million shares of Strides Arcolab on the BSE. It sold 0.51 million shares of the company on the NSE.

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

In an separate bulk deal, another Strides Arcolab shareholder Morgan Stanley Asia (Singapore) on Monday picked up 1.05 million shares of the drug firm for 57.73 crore.

Separately, Macquaire Bank purchased 0.5 million shares of Strides Arcolab in a transaction worth 27.40 crore.

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

For the same quarter, Macquaire Bank held 2.82% 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 on Monday gained 3.37% to end the day at 544.45 apiece, on the BSE.

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Published: 29 Apr 2014, 12:06 AM IST
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