Fin services firms buys Strides Arcolab scrips worth Rs 66 cr

BNP Paribas Arbitrage purchased 5.03 lakh shares while Macquarie Bank bought 3.5 lakh shares of the drug firm

Financial services firms BNP Paribas Arbitrage and Macquarie Bank today picked up more than 12 lakh shares of drug company Strides Arcolab for over Rs 66 crore through open market transactions.

BNP Paribas Arbitrage purchased 5.03 lakh shares of Strides Arcolab for an estimated Rs 38.21 crore, as per information available with the stock exchanges.

Macquarie Bank bought 3.5 lakh shares of the drug firm for about Rs 28 crore, the data showed.

BNP Paribas Arbitrage picked up Strides Arcolab shares on an average price of Rs 759.72, while Macquarie Bank bought the drug firm company scrips at Rs 799.97 apiece.

As on June quarter, BNP Paribas Arbitrage, held 10.01 lakh shares, amounting to 1.7% stake, of Strides Arcolab.

Shares of Strides Arcolab were in focus during past one week, soared 38% from Rs 589 on July 31, after the company received tentative approval from the US health regulator for anti-AIDS combination drug.

Strides Arcolab today rallied 16.83% to close at Rs 811.30 apiece on the BSE.