Sequent Scientific extends gains as FIIs buy stake

Three foreign institutional investors acquire over 1.2 million shares at Rs 250 per share

Shares of Sequent Scientific extended gains today and were up 10% at Rs 305 after several foreign institutional investors acquired over 1.2 million shares in the pharmaceutical and speciality chemicals firm.

Route One Fund 1 LP has acquired 400,000 shares, Morgan Stanley Asia (Singapore) PTE acquired 408,743 shares and Merrill Lynch Capital Markets Espana SA SV acquired 400,000 shares, as per the bulk deal data on the Bombay Stock Exchange. The shares were acquired at Rs 250/- each.

Meanwhile, Primera Partners PTE Ltd was sold 1.29 million shares of Sequent Scientific.

The stock opened at Rs 285 and touched a high of Rs 305 and a low of Rs 285 on the BSE. Over 99,000 shares were traded so far on the BSE.