Macquarie Bank sells shares worth Rs 75 cr in 6 cos

Foreign fund Macquarie Bank today offloaded a total of 1.24 crore shares in six companies including MTNL, BEML and Orchid Chemicals for Rs 75 crore through open market transactions.

According to bulk data available with the stock exchanges, Macquarie Bank sold 2.54 lakh shares of BEML for Rs 8.28 crore the bank also shed 17.28 lakh shares of MTNL in a deal worth Rs 5.13 crore.

In addition, Macquarie Bank shed 4.18 lakh shares of Orchid Chemicals Ltd for Rs 4.58 crore and sold 35.96 lakh shares of Sintex Industries to the tune of Rs 20.83 crore.Further, Macquarie Bank sold 18.83 lakh shares in IRB
Infrastructure Developers in a deal valued Rs 22 crore, while another 44.89 lakh shares in Shree Renuka Sugars were sold for Rs 14 crore.

At the same time, Macquarie Bank bought shares worth Rs 1.1 lakh and Rs 1.21 crore in IRB Infrastructure Developers and Shree Renuka Sugars respectively.

In hectic selling, another foreign fund Barclays Capital Mauritius too offloaded shares in companies such as Bajaj Hindusthan, Welspun Corp and IFCI Ltd. Barclays Capital Mauritius sold shares in Bajaj Hindusthan, IFCI Ltd and Welspun Corp for Rs 10.97 crore, Rs 20.39 crore and Rs 13.32 crore respectively.

However, Barclays Capital Mauritius purchased shares to the tune of Rs 11.10 crore in Balrampur Chini Mills.