Latest News | HDFC MF Divest 2 Pc Stake in VST Industries Shares for Rs 122 Crore

New Delhi, Apr 15 (PTI) HDFC Mutual Fund on Monday sold a 2 per cent stake in VST Industries for Rs 122 crore through open market transactions.

According to the bulk deal data available with the BSE, HDFC Mutual Fund sold a total of 3,30,811 shares, amounting to a 2.14 per cent stake in VST Industries.

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The shares were disposed of within the price range of Rs 3,690-3,690.38 apiece, taking the deal value to Rs 122.07 crore.

After the latest transaction, HDFC Mutual Fund's shareholding has declined to 3.7 per cent from 5.84 per cent (as of December 2023).

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Meanwhile, Radhakishan Shivkishan Damani, promoter of Avenue Supermarts, bought 2.33 lakh shares or 1.5 per cent stake in VST Industries for Rs 86.24 crore.

The shares were acquired at an average price of Rs 3,689.96 apiece, taking the deal value to Rs 86.25 crore.

After the stakebuy, Radhakishan Damani becomes the largest shareholder of VST Industries.

As of December 2023, entities owned by Damani, including Bright Star Investments Pvt Ltd and Derive Trading and Resorts, hold a combined shareholding of 30.71 per cent.

In January this year, Damani had acquired 2.22 lakh shares or 1.44 per cent stake in VST Industries.

Other buyers could not be ascertained.

Shares of VST Industries fell 0.34 per cent to close at Rs 3,689.90 apiece on the BSE.

In a separate transaction, the Massachusetts Institute of Technology bought 66 lakh shares of Marksans Pharma for Rs 104 crore through an open market transaction.

Massachusetts Institute of Technology acquired 66 lakh shares of Marksans Pharma at an average price of Rs 158 apiece, as per the bulk deal data on the National Stock Exchange (NSE).

This took the deal value to Rs 104.28 crore.

Details of the sellers could not be ascertained.

On Monday, shares of Marksans Pharma plunged 4.14 per cent to settle at Rs 156.10 apiece on the NSE.

In another bulk deal on the BSE, Chicago-based North Star Investment Management bought 10 lakh shares of Eureka Forbes for Rs 47 crore through an open market transaction.

North Star Investment Management through its affiliate North Star Opportunities Fund VCC-Bull Value Incorporated VCC Sub-Fund purchased 10 lakh shares of Eureka Forbes at an average price of Rs 468.02 per piece, as per data on the BSE.

This took the transaction size to Rs 46.80 crore.

Details of the sellers could not be ascertained.

The scrip of Eureka Forbes rose 3.75 per cent to end at Rs 480.05 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)