New World Fund sells Shriram Transport Finance’s shares worth Rs 148 cr

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New World Fund on July 25 offloaded over 15 lakh shares of NBFC firm Shriram Transport Finance Company Ltd for about Rs 148 crore through open market transactions.

According to the latest bulk deal data available with the National Stock Exchange (NSE), New World Fund sold over 15.09 lakh shares for an estimated amount of Rs 147.70 crore with the average price being Rs 978.68 per scrip.

The buyer, however, could not be ascertained immediately.

According to the shareholding pattern available on the NSE, at the end of the June quarter, New World Fund held 1.94 per cent stake or 43.91 lakh shares in the firm.

The NBFC firm on Wednesday reported nearly 11 per cent rise in its net profit to Rs 634.25 crore for the first quarter ended June 30.

The company’s net profit in the corresponding June period of 2018-19 was at Rs 572.90 crore.

On the NSE, shares of Shriram Transport Finance Company Ltd Thursday ended at Rs 978 apiece, up 5.69 per cent.

[“source=moneycontrol”]

Author: Lili