SBI Mutual Fund Expands Stake in Alkem Laboratories
SBI Mutual Fund bought additional shares of Alkem Laboratories for Rs 300 crore, increasing its stake to 2.7%. The shares, totaling 6.41 lakh, were acquired at Rs 4,680 each. This transaction saw the Samprada & Nanhamati Singh Family Trust selling the equivalent number. Alkem shares fell by 2.54% on Friday.
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In a significant move, SBI Mutual Fund has increased its stake in Alkem Laboratories by purchasing additional shares worth Rs 300 crore via an open market transaction on Friday.
The acquisition involved 6.41 lakh shares, equivalent to a 0.54% stake in the Mumbai-based pharmaceutical firm, bought at an average price of Rs 4,680 per share, according to National Stock Exchange data.
This strategic purchase raised SBI Mutual Fund's holding in Alkem to 2.7%, up from 2.16%, while the Samprada & Nanhamati Singh Family Trust, related to Alkem's promoters, offloaded the same amount of shares, as per the reported figures. Alkem's stock saw a 2.54% drop, closing at Rs 4,600.05 per share on Friday.
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