Star Cement Ltd’s three promoters on Thursday sold 3.34% stake in the firm for Rs182 crore, through open market transactions.
According to the bulk deal data available with NSE, the three promoters are Sanjay Agarwal, Sajjan Bhajanka and Prem Kumar Bhajanka.
Sanjay Agarwal offloaded 6.4 million shares while Sajjan Bhajanka disposed of 4.6 million shares. A total of three million shares were sold by Prem Kumar Bhajanka.
The shares were disposed of at an average price of Rs130 apiece, valuing the transaction at Rs182 crore, as per NSE data.
The data also showed that SBI Mutual Fund bought 15.3 million shares or 3.66% stake of Star Cement. The shares were purchased at a price of Rs129.97 per scrip translating into Rs199.50 crore transaction.
Star Cement’s stock settled for the day on NSE at Rs132.60, down 4.40% from the previous close.
Source: Mint