 "Salzer Electronics declines on stake sale by L&T")
Shares of Salzer Electronics had weakened by 2.8% at Rs 297 on the BSE in early morning trades after the engineering and construction major Larsen & Toubro (L&T) sold that it sold its stake in the company through a bulk deal for about Rs 54 crore.
On August 5, L&T had sold 1.85 million shares representing 13.66% stake in Salzer at an average market price of Rs 290.25 per share, as per the bulk deal data on BSE.
L&T sold 400,000 shares at price of Rs 260.91 on August 4, data shows.
L&T had 2.68 million shares or 19.82% stake in Salzer Electronics as on July 24, 2015, the shareholding pattern data shows.
Meanwhile, Merrill Lynch Capital Markets Espana SA SV (274,171 shares), ICG Q Limited (150,000 shares) and Orange Mauritius Investment (75,000 shares) also sold shares of Salzer via bulk deals.
Meanwhile, Elara India Opportunities Fund bought 1.1 million shares and Vespera Fund purchased 200,000 shares of the company. CLICK HERE TO FULL LIST
On Wednesday, Salzer Electronics had rallied 19% from Rs 256 to Rs 305 on the BSE.
At 09:28 AM, the stock was down 1% at Rs 302 and has seen around 188,147 shares changing hands on the counter on the BSE.
On August 5, L&T had sold 1.85 million shares representing 13.66% stake in Salzer at an average market price of Rs 290.25 per share, as per the bulk deal data on BSE.
L&T sold 400,000 shares at price of Rs 260.91 on August 4, data shows.
L&T had 2.68 million shares or 19.82% stake in Salzer Electronics as on July 24, 2015, the shareholding pattern data shows.
Meanwhile, Merrill Lynch Capital Markets Espana SA SV (274,171 shares), ICG Q Limited (150,000 shares) and Orange Mauritius Investment (75,000 shares) also sold shares of Salzer via bulk deals.
Meanwhile, Elara India Opportunities Fund bought 1.1 million shares and Vespera Fund purchased 200,000 shares of the company. CLICK HERE TO FULL LIST
On Wednesday, Salzer Electronics had rallied 19% from Rs 256 to Rs 305 on the BSE.
At 09:28 AM, the stock was down 1% at Rs 302 and has seen around 188,147 shares changing hands on the counter on the BSE.