Four entities sell Laurus Labs shares worth Rs 654 cr

On BSE, shares of Wheels India ended at Rs 453.75, higher 5.7 per cent on Monday. Separately, promoter of JK Cement, Sushila Devi Singhania sold 2 lakh shares of the firm at Rs 1,360 per scrip, valuing the deal at Rs 27.2 crore.

Bluewater Investment Ltd and three other entities on Monday sold shares worth Rs 654 crore in Laurus Labs through open market transactions. According to bulk deal data on BSE, Bluewater Investment sold shares of Laurus Labs worth Rs 632.06 crore Bluewater Investment held 19.63 per cent stake in the firm, according to Laurus Labs' shareholding data for March 2020 quarter.

The shares were sold in the range of Rs 506 to Rs 513.88 per scrip. According to the data, Millennium Stock Broking sold shares for for Rs 3.34 crore, Setu Securities for Rs 13.58 crore and Avani Paresh Shah for Rs 5 crore.

Meanwhile, five entities picked up shares of the firm at a total Rs 267.43 crore. Of these entities, BNP Paribas Arbitrage bought shares for Rs 75.63 crore, Government Pension Fund Global for Rs 47.46 crore, MK Ventures for Rs 3.82 crore, Avani Paresh Shah for Rs 49.92 crore and Setu Securities for Rs 90.6 crore.

Laurus Labs shares ended at Rs 517.9, down 4.47 per cent. In separate transactions, Titan Europe, a promoter of Wheels India Ltd, on Monday divested its stake worth Rs 146.74 crore in the firm through open market transactions.

Over 34.31 lakh scrips were offloaded by Titan Europe Ltd at a price of Rs 427.6 per share, block deal data on BSE showed. According to the shareholding pattern of Wheels India for March 2020 quarter, Titan Europe is a promoter and held 20 per cent stake in the firm.

Through separate transactions, the scrips of Wheels India were bought by five entities at the same price. India Motor Parts and Access Ltd bought 5.14 lakh shares, Royal Sundaram Alliance Insurance Company 5.61 lakh shares, IDFC Mutual Fund 2.33 lakh scrips, HDFC Mutual Fund 9.91 lakh shares and Sundaram Finance Holdings 11.31 lakh scrips, the data showed.

Of the buyers, Sundaram Finance Holdings is also a promoter that held 13.58 per cent stake in the firm as of March 2020 quarter. On BSE, shares of Wheels India ended at Rs 453.75, higher 5.7 per cent on Monday.

Separately, promoter of JK Cement, Sushila Devi Singhania sold 2 lakh shares of the firm at Rs 1,360 per scrip, valuing the deal at Rs 27.2 crore. The shares were purchased by another promoter--Yadu International Ltd.

Sushila Devi Singhania and Yadu International Ltd held 0.37 and 39.91 per cent stake in JK Cement respectively at the end of March 2020 quarter. JK Cement closed at Rs 1,363.15, up 0.1 per cent, on BSE.