Strides Arcolab cancels convertible bonds after Partial Repurchase

Strides Arcolab Ltd has announced that the Company has purchased USD 2.0 million aggregate face value of Bonds and is in the process of extinguishing such Bonds.

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

The stock was trading at Rs.168.25, up by Rs.2.35 or 1.42%. The stock hit an intraday high of Rs.172 and low of Rs.166.25.

The total traded quantity was 116416 compared to 2 week average of 225961.

Source : Equity Bulls

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