WF Asian Reconnaissance Fund, a Hong Kong-based hedge fund, offloaded 0.78 percent equity stake in IIFL Wealth Management via open market transactions on first day of the financial year 2022-23 (FY23), April 1. IIFL's stock ended 2 percent higher.
The hedge fund has sold 6,98,922 equity shares in IIFL Wealth at an average price of Rs 1,714.05 per share. As of December 2021, the fund's total shareholding in the company was 4.51 percent or 40 lakh equity shares.
Among other deals, Nishant Pitti sold 5.5 lakh equity shares in IT services management company BLS International Services. These shares were offloaded at an average price of Rs 247.1 per share. The stock was locked in 5 percent upper circuit at Rs 247.1.
Navodya Enterprises acquired 1,02,224 equity shares in commercial vehicle manufacturer SML Isuzu, at an average price of Rs 585.96 per share. The stock saw heavy buying interest, gaining 18.4 percent at Rs 586.6.
Gujarat Samachar publisher Lok Prakashan bought 1,04,871 equity shares (representing 0.67 percent stake) in paper and paper related products manufacturer Star Paper Mills at an average price of Rs 172.94 per share. The stock got a strong support of bulls as it gained 8.4 percent to Rs 172.2.
Winro Commercial India acquired 14 lakh equity shares in large diameter pipes manufacturer Welspun Corp, at an average price of Rs 181.06 per share. The stock surged 10 percent to Rs 184.3.
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