Major Stakeholders Divest in Hindustan Foods and Affle India, Shares Surge

Five entities sold an 11 percent stake in FMCG firm Hindustan Foods for Rs 638 crore through open market deals, leading to a share price surge. Concurrently, Affle Holdings divested a 1.8 percent stake in Affle (India) for Rs 322 crore, causing its shares to rise.

In significant developments on the stock market, five entities divested an 11 percent stake in FMCG giant Hindustan Foods, amounting to Rs 638 crore.

Prominent investors including WestBridge AIF I and Infinity Consumer Holdings executed block deals on the NSE, boosting the company's shares by 5.54 percent.

In parallel, Affle Holdings offloaded a 1.8 percent stake in Affle (India) Ltd for Rs 322 crore, which saw its shares climb by 5.73 percent.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)