Sona Comstar up 8% as institutional investors buy Blackstone's 20.5% stake

Marquee investors like the Government of Singapore, Fidelity, FMR, ICICI Prudential Life Insurance and HDFC MF bought shares from Blackstone in the bulk deal.

Shares of Sona BLW Precision Forgings (Sona Comstar) rallied 8 per cent to Rs 436.25 in Tuesday’s intra-day trade ,after long term investors bought Blackstone’s 20.5 per cent stake in the company, on Monday via bulk deals in the open market.

On Monday, the stock had lost 7 per cent after Blackstone group sold its entire residual 20.5 per cent holding in Sona Comstar at a price of Rs 410/share via block deal. The total transaction size of stake sale is pegged at around Rs 4,920 crore.

Before yesterday's transaction, Aureus Investment Private Limited and Blackstone held 33