Strides Pharma Science shares were trading in the red on 6 October after 1.5% equity of the company changed hands.

Around 13.75 lakh shares of the company, worth Rs 65.1 crore, were traded at an average price of Rs 502 per share, which is a 1.4% discount from its previous close of Rs 508.90.

On 4 October, the company announced that its subsidiary, Strides Pharma Global, had received approval from the USFDA (the US Food and Drug Administration) for its Efavirenz (600mg), Emtricitabine (200mg), Tenofovir Disproxil Fumurate (300mg), known as EET tablets.

These EET tablets will be manufactured at the company’s Bengaluru facility and have a market opportunity of $7.5 million.

As of 30 June, the promoters of the company held 28.1% stake in the company, and FIIs (foreign institutional investors) held 16.72%. DIIs (domestic institutional investors) held 20%, and the public has a 35.2% stake in the company.

In its one-year run, the shares of Strides Pharma have gained more than 46.8% against the 13.7% return given by the Nifty 50 index.

At 3:30 pm, the shares of Strides Pharma closed at Rs 501 or 1.55% below its previous close on NSE.