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Merrill Lynch Fund Offloads HDFC Bank Shares For Rs 51 Cr

According to block deal data available with BSE, Merrill Lynch sold 3,86,658 shares at an average price of Rs 1,306.15 apiece, taking the transaction size to Rs 50.50 crore

Photo Credit : Reuters

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Merrill Lynch India Equities Fund Mauritius Ltd on Tuesday offloaded 3.86 lakh shares of private lender HDFC Bank for around rs 51 crore through open market transaction.

According to block deal data available with BSE, Merrill Lynch sold 3,86,658 shares at an average price of Rs 1,306.15 apiece, taking the transaction size to Rs 50.50 crore.

BlackRock Global Funds India Fund picked up the same amount of shares at the same price.

HDFC Bank shares closed 0.69 per cent higher at Rs 1,314.05 on BSE.

In a separate transaction, PMK Holdings Pvt Ltd sold nearly 4 lakh shares worth Rs 14.30 crore of technology company Cigniti Technologies Ltd via open market transaction.

According to bulk deal data available with National Stock Exchange (NSE), PMK Holdings sold 3,99,184 shares of Cigniti Technologies at an average price of Rs 358.36 per piece, valuing the transaction at Rs 14.30 crore.

Mithun Chand Chennamaneni bought 1.45 lakh shares of the IT firm at Rs 345.59 per share.

Cigniti Technologies shares closed 8.68 per cent lower at Rs 382 on NSE.


(PTI)


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