Around 1.06 crore shares of Adani Ports & Special Economic Zone changed hands in a large deal on the exchanges on May 24. The deal, involving a 0.5 percent stake in the port operator, was worth a total of Rs 1,480 crore.
The transaction was executed at an average price of Rs 1,386 per share, a near 4 percent discount from the stock's previous close.
Moneycontrol could not immediately ascertain the parties involved in the transaction. However, CNBC-TV18 reported, citing sources, that a strategic investor was likely the seller in this transaction.
At 11.04 am, shares of Adani Ports & Special Economic Zone were trading a little over 1 percent lower at Rs 1,428 on the NSE.
Follow our live blog for all the market action
At the end of the March quarter of FY24, mutual funds held a 3.1 percent stake in Adani Ports, while India's largest insurance company, LIC, possessed a 7.86 percent stake in the company.
Additionally, GQG Partners, known for its bullish stance on the Adani conglomerate, owns a near 4 percent holding in Adani Ports. On the other hand, promoters of Adani Ports held a 65.89 percent stake in the company.
Meanwhile, out of the 21 brokerages that cover Adani Ports, 19 of them have a 'buy' rating, while the other two have a 'hold' recommendations.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
