PI Industries declines as its promoter sells 0.65% stake for Rs 315 crore
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PI Industries is currently trading at Rs. 3026.50, down by 32.80 points or 1.07% from its previous closing of Rs. 3059.30 on the BSE.
The scrip opened at Rs. 3020.00 and has touched a high and low of Rs. 3049.90 and Rs. 2937.00 respectively. So far 12044 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3505.00 on 01-Sep-2022 and a 52 week low of Rs. 2334.35 on 27-Jan-2022.
Last one week high and low of the scrip stood at Rs. 3191.55 and Rs. 2937.00 respectively. The current market cap of the company is Rs. 45873.49 crore.
The promoters holding in the company stood at 46.74%, while Institutions and Non-Institutions held 41.82% and 11.43% respectively.
PI Industries’ promoter has sold 10 lakh shares or 0.65 per cent stake of the company for Rs 315 crore through open market transactions. The shares were picked up by a clutch of domestic mutual funds (MFs), foreign investors and an insurance company. The entities that purchased the stake are -- Mirae Asset MF, Sundaram MF, Tara Emerging Asia Liquid Fund, Morgan Stanley Asia Singapore Pte, BNP Paribas Arbitrage, Ghisallo Master Fund LP and ICICI Prudential Life Insurance Company.
According to block deal data available with BSE, Mayank Singhal sold 10 lakh shares of the company in eight tranches. The shares were disposed of at an average price of Rs 3,150 apiece, taking the transaction value to Rs 315 crore. As of the June quarter, Mayank Singhal owned 18.47 per cent stake in the firm, as per shareholding data with the bourse.
PI Industries is engaged in the business of- Agri inputs, Fine Chemicals and (CRAMS) Contract Research and Manufacturing Services), Polymers and Engineering Services.
