 "SBI Mutual Fund among buyers of Whirlpool of India's nearly 24% stake")
Whirlpool of India promoters on Tuesday offloaded nearly 24 per cent stake in the company for Rs 3,881 crore. It sold 30.39 million shares at Rs 1,227 apiece. Among the buyers were SBI Mutual Fund (bought Rs 1,168 crore), Nippon India MF (Rs 102 crore), Aditya Birla Sun Life MF (Rs 114 crore) and ICICI Prudential MF (Rs 83 crore). Shares of Whirlpool India fell 3.2 per cent to close at Rs 1,288. Following the share sale, the promoter shareholding in the company will drop to about 51 per cent.
Zee shares settle 8% higher amid reports of Sony merger
Shares of Zee Entertainment Enterprises Ltd (ZEEL) settled 8 per cent higher on Tuesday after media giant Zee and Sony Pictures Networks (India) were reportedly working to salvage their $10 billion merger. Later in the day, the entertainment company denied having any merger revival talks with Sony. The scrip of the company surged 8.03 per cent to close at Rs 193 apiece on the BSE. On the NSE, ZEEL stock jumped 6.67 per cent to end at Rs 190.40 per piece. The shares of the entertainment company zoomed 15 per cent — hitting its upper circuit limit — on the bourses. In volume terms, 85.3 million equity shares were traded on the NSE, while 6 million shares changed hands on the BSE during the day. Sony on January 22 said it terminated the deal accusing ZEE of not meeting closing conditions even after extending their closing period by a month. PTI
Vibhor Steel Tubes zooms 193% on debut
Vibhor Steel Tubes had a stellar market debut on Tuesday, with its shares ending the day with a huge premium of 193 per cent, against the issue price of Rs 151. The stock made its debut at Rs 421, reflecting a rally of 178.81 per cent from the issue price on the BSE. Finally, it settled at Rs 442, reflecting a rally of 192.72 per cent. On the NSE, shares of Vibhor Steel Tubes listed at Rs 425, climbed 181.46 per cent from the issue price and later closed at Rs 446.25 per piece. PTI