Strides Arcolab repurchases US$20.5 million worth FCCBs

Strides Arcolab Ltd has announced that the Company has purchased USD 18.50 million aggregate face value of USD 100 million 0% convertible bonds due 2012.

The company has also purchased USD 2.00 million aggregate face value of USD 40 million 0.50% convertible bonds due 2010.

Further, the Company may also purchase from the markets and extinguish additional Bonds from time to time at its sole discretion.

The stock was trading at Rs.139, up by Rs.1.70 or 1.24%. The stock hit an intraday high of Rs.141.55 and low of Rs.137.10.

The total traded quantity was 13179 compared to 2 week average of 174952.

Source : Equity Bulls

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