Latest News | UK-based Marshall Wace Sells Shares of One97 Comm, Shriram Finance for Rs 419 Crore

New Delhi, Jun 14 (PTI) UK-based hedge fund Marshall Wace on Friday sold shares of One97 Communications and Shriram Finance for a combined value of Rs 419 crore through open market transactions.

Marshall Wace, through its arm Marshall Wace Investment Strategies - Eureka Fund, offloaded shares of One97 Communications, owner of Paytm brand, and Shriram Finance Ltd through separate block deals on the National Stock Exchange (NSE).

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As per the data on the NSE, Marshall Wace Investment Strategies - Eureka Fund sold 5.85 lakh shares of One97 Communications at an average price of Rs 428.05 apiece.

In addition, Marshall Wace Investment Strategies - Eureka Fund also disposed of over 14.67 lakh shares of Shriram Finance at an average price of Rs 2,684.30 per piece.

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This took the combined transaction value to Rs 419.09 crore.

Meanwhile, Paris-based financial services firm BNP Paribas, through its affiliate BNP Paribas Financial Markets purchased shares of One97 Communication and Shriram Finance Ltd at the same price, as per the NSE data.

Shares of Shriram Finance rose 1.75 per cent to close at Rs 2,731.25 apiece, while scrip of One97 Communications slipped 1.04 per cent to settle at Rs 423.60 per piece on the NSE.

(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)