September 21, 2020

Phoenix Mills share value: Phoenix Mills slips 8% on a number of block offers

Shares of Phoenix Mills tumbled over Eight per cent after the counter witnessed a number of block offers in Tuesday’s early commerce.

The scrip traded 8.17 per cent down at Rs 666 at round 9.30 am (IST), whereas the benchmark BSE Sensex was up 0.51 per cent at 38,997 at across the identical time.

In line with reviews, round 1.50 crore shares value Rs 1,055 crore exchanged palms in a number of blocks at a median value of Rs 667 per share.

ET NOW earlier accessed the time period sheet for the sale of shares by promoter group entities for Phoenix Mills QIP and sources point out that Radhakrishna Ramnarain Pvt Ltd and Senior Advisory Companies Non-public Ltd are prone to promote the stake.

Alternatively, the most recent shareholding knowledge confirmed that institutional traders together with mutual funds and international portfolio traders (FPI) have lapped up shares of the corporate throughout July 1 and August 22.

Mutual funds elevated their stake to 12.61 per from 10.16 per cent as of June 30. Likewise, FPIs now maintain 29.53 per cent stake towards 25.74 per cent earlier.

With a stake of 4.33 per cent, the Authorities of Singapore can also be among the many key shareholders within the firm.

Insurance coverage corporations additionally hiked their stake to 0.93 per cent from 0.63 per cent earlier.