Morgan Stanley sells shares of Strides Arcolab for Rs 33 cr

MUMBAI: Foreign fund house Morgan Stanley Mauritius Company today offloaded nearly 3.7 lakh shares of drug firm Strides Arcolab in an open market transaction worth Rs 33.27 crore.

The shares were offloaded at an average price of Rs 900 apiece, according to the bulk deal data available with stock exchanges.

Strides Arcolab declined marginally by 0.07 per cent to Rs 899.90 on BSE today.

Morgan Stanley Mauritius Partners held 18.24 lakh shares of Strides Arcolab representing 3.10 per cent stake, at the end of quarter ending December.

Meanwhile, Route One Fund acquired 6.2 lakh shares of the drug firm worth Rs 55.81 crore,

Strides Arcolab consolidated net profit had dipped 10.55 per cent to Rs 61.19 crore for the fourth quarter ended December 31, 2012.