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E-mail ID will not be published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

  • Kerala, god’s own country, will always be free spirited

    Candy is dandy, but liquor is quicker,” the celebrated American poet Ogden Nash had once said famously.

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

Varun Dutt

<b>Riskfactor</b>:The over-the-top effect effect

The overconfidence effect is a bias in which someone’s subjective ...

Parvez Imam

The absoluteness in representations

When a representation replaces the original object or subject, a ...

Dharmendra Khandal

Religion and conservation must go hand in hand

In 1986, former president of WWF International, HRH Prince Philip, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture