Strides Arcolab Ltd increases FII limit to 74%

The Shareholders of Strides Arcolab Ltd at their Extraordinary General Meeting held on August 03, 2013, have approved increase in the Fll Investment limit in the Company.

FII's can now invest upto 74% of the paid up equity share capital of the Company under the Portfolio Investment Scheme. The current Fll holding in the Company is 52%.

As required under the FEMA Regulation, the Company has made necessary intimation to the Reserve Bank of India confirming the shareholders' approval for the increased Fll investment limit.

Shares of Strides Arcolab Ltd was last trading in BSE at Rs.730.25, up by Rs.35.55 or 5.12%. The stock hit an intraday high of Rs.738 and low of Rs.696.

The total traded quantity was 0.63 lakhs compared to 2 week average of 0.98 lakhs.

Source : Equity Bulls

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