Shanthi Gears slumps after Sundaram BNP Paribas MF sells shares

Sundaram BNP Paribas MF sells 5,04,656 shares at Rs 132.24 via bulk deal on NSE

Shanti Gears dropped over 6% to Rs 127 after Sundaram BNP Paribas sold over 5 lakh shares of the company through a bulk deal on the National Stock Exchange.

Sundaram BNP Paribas Mutual Fund has sold 5,04,656 shares of Shanthi Gears from its Sundaram Growth Fund at an weighted average price of Rs 132.24 on Wednesday, December 31, 2014, National Stock Exchange said in a release.

The stock opened at Rs 132 and touched a low of Rs 126 on the NSE. At 12:25PM, over 76,000 shares were traded on both the stock exchanges.