 "Hero MotoCorp dips on promoter's stake sale plan report")
Hero MotoCorp has dipped nearly 4% to Rs 2,698 on the National Stock Exchange (NSE) in early morning trade on reports that the promoter of the country’s biggest maker of motorcycles and scooters is planning to sell part of its holding through open market today.
The stock opened at Rs 2,705 and touched a low of Rs 2,694 on NSE. Till 0921 hours, a combined 551,618 shares changed hands on the counter on NSE and BSE.
Brij Mohan Lal Om Prakash plans to sell nearly 7 million shares of Hero MotoCorp in open market transactions on Wednesday, the term sheet for the deal showed, a Reuters report suggests. (READ REPORT HERE)
The shares are offered at an indicative price band of Rs 2,664 to Rs 2,720, the term sheet showed, a discount of as much as 5% from its Monday's closing price of Rs 2,805, added the report.
As on December 31 2014, Brijmohan Lall Munjal held 12.40 million shares or 6.21% stake in Hero MotoCorp, the shareholding pattern data shows.
The stock opened at Rs 2,705 and touched a low of Rs 2,694 on NSE. Till 0921 hours, a combined 551,618 shares changed hands on the counter on NSE and BSE.
Brij Mohan Lal Om Prakash plans to sell nearly 7 million shares of Hero MotoCorp in open market transactions on Wednesday, the term sheet for the deal showed, a Reuters report suggests. (READ REPORT HERE)
The shares are offered at an indicative price band of Rs 2,664 to Rs 2,720, the term sheet showed, a discount of as much as 5% from its Monday's closing price of Rs 2,805, added the report.
As on December 31 2014, Brijmohan Lall Munjal held 12.40 million shares or 6.21% stake in Hero MotoCorp, the shareholding pattern data shows.