Strides Arcolab advanced 3.63% to Rs 194 at 12:21 IST on BSE after promoters mopped up a little over 4% of the company’s equity by open market purchases in recent weeks.
The stock hit a high of Rs 196.40 and a low of Rs 187 so far during the day. The stock had a 52-week high of Rs 372 on
The company’s current equity is Rs 39 crore. Face value per share is Rs 10.
With the latest stake hike, promoters have increased their holding to over 21%. Promoters held 18.82% stake in the company with total foreign holding being 68.60% as at end December 2007.
Strides Arcolab reported net loss of Rs 133.40 crore in Q4 December 2007 as compared to net profit of Rs 12.97 crore in Q4 December 2006. Net sales fell 41.4% to Rs 75.76 crore in Q4 December 2007 over Q4 December 2006.
The Bangalore-headquartered Strides Arcolab is a significant player in soft gelatin capsules and steriles. It manufactures ethical pharmaceutical products, over the counter (OTC) products and nutraceuticals. It performs its activities through two segments, pharma and contract research and manufacturing (CRAM).
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