IDL Speciality sell 2 crore Ashok Leyland shares

Tags: News
IDL Speciality Chemicals today sold 2 crore shares of commercial vehicle major Ashok Leyland for an estimated Rs 47.68 crore through open market transactions.

The shares were offloaded for an average price of Rs 23.84, according to the bulk deal information available with stock exchanges.

Ashok Leyland, a Hinduja Group flagship company, is one of the largest commercial vehicle manufacturers in India with a turnover of $ 2.3 billion in 2012-13.

In a separate bulk deal, BNP Paribas Arbitrage, a shareholder of Strides Arcolab, offloaded 6.51 lakh shares of the pharmaceutical company for Rs 32.18 crore.

The shares were sold at an average price of Rs 494.42 apiece in open market transactions.

At the end of quarter ended march 2014, BNP Paribas Arbitrage held nearly 24.9 lakh shares of Strides Arcolab amounting to 4.18 per cent stake in the company.

On the BSE, Ashok Leyland shares were down 2.31 per cent to close at Rs 23.30 apiece, while scrip of Strides Arcolab surged 13.3 per cent to end the day at Rs 526.70 apiece.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Prabhu Express has trundled into town with a cargo of feel-good promises

    Railway minister Suresh Prabhu, punning on his own name, sought divine intervention more than once while delivering his maiden rail budget last Thursd

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Taslima Nasreen

The death of a liberal humanist

I first met Avijit Roy about 15 years ago. He ...

Purnendu Ghosh

Context is important in colour choices

Colours reflect power, optimism, warmth, emotion and balance. Colours are ...

Shona Adhikari

Art world celebrates two ‘new’ Cezannes

The focus moves once more to post-impressionist Paul Cezanne, who ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture