UltraTech Cement promoter sells 0.85% stake for ₹2,896 crore
pre-market1 source ↓written by the desknot a recommendation
- Industries Corporation sold
- 0.85%
- through open market
- ₹2,896 cr
- at an average
- 25 lakh shares
- each
- ₹11,585
- its holding
- 1.5%
Pilani Investment and Industries Corporation sold 0.85% of UltraTech Cement for ₹2,896 cr through open market transactions. The sale involved 25 lakh shares at an average price of ₹11,585 each, reducing its holding from 1.5% to 1%. This move impacts the overall promoter holding, now at 58.49%.
The stake sale may influence market sentiment towards UltraTech Cement, as institutional investors like HDFC MF and ICICI Prudential MF participated in the transaction.
Not investment advice. For informational purposes only.