Strides Arcolab: FIIs can now buy more shares

The Reserve Bank of India has lifted a ban on foreign institutional investors buying shares of Strides Arcolab, as FII holding in the company has fallen below the threshold limit of 49 per cent. As on July 1, FIIs’ stake in Strides Arcolab slipped to 32.38 per cent and hence the restrictions placed on fresh purchases were withdrawn with immediate effect. The stock may see buying interest on the bourses on Thursday.