Two portfolio investors of GMM Pfaudler Ltd. sold stakes worth Rs 557.3 crore through open market transactions on Wednesday. The buyers included Infinity Partners.
The two investors, Atreides Investments BV and Geranium Investments Ltd., divested 0.92% and 8.25%, respectively, according to the block deal data on the NSE. Foreign portfolio investor Atreides sold 4.12 lakh shares and Geranium offloaded 37.1 lakh shares at Rs 1,352 apiece.
As of June, Geranium held an 8.25% stake in the chemical processing company. Infinity Partners bought a 9.17% stake.
Shares of GMM Pfaudler closed 3.27% higher at Rs 1,401.75 apiece on the NSE, compared to a 0.14% advance in the benchmark Nifty.
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