Bulk deals: Smallcap World Fund sells Rs 336.64 crore stake in Polycab, almost 50 lakh shares exchange hands in Samhi Hotels

Foreign investor Smallcap World fund sold 0.57 percent stake in Polycab

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Foreign investor Smallcap World Fund sold 8.51 lakh shares or 0.57 percent stake in Polycab India at Rs 3,599.87 per piece. The total value of the transaction comes to Rs 336.64 crore.

Shares of Polycab plunged 20.5 percent to Rs 3,904.7 after the income tax department said it found Rs 1,000 crore worth of unaccounted cash sales when it searched the company's offices on the previous day.

Samhi Hotels shares changed hands in the bourses on January 11 as Sarvara Investment Fund I sold 49.97 lakh shares at Rs 185 per share while Abu Dhabi Investment Authority bought 50 lakh shares at Rs 185. Abu Dhabi Investment Authority bought stakes worth Rs 92.5 crore in the company. Samhi Hotel stock closed at Rs 194.5, 10.48 percent higher than the previous day’s close.

Two foreign investors, NHIT Global Emerging Markets Equity Trust and Destinations International Equity Fund of Brinker Capital bought shares of Suyog Telematics and Bharat Wire Ropes.

Destinations International Fund bought 4.15 lakh shares at an average price of Rs 382.95 in Bharat Wire Ropes. The fund picked up a 0.61 percent stake for Rs 15.91 crore, while NHIT picked up 3.7 lakh shares or a 0.54 percent stake for an average price of Rs 382.95 valuing its transaction at Rs 14.19 crore. Shares of Bharat Wire Ropes were trading flat and closed 0.54 percent higher at Rs 385.

Fortune Smart Lifestyle offloaded a 1.29 percent stake or 1.42 lakh shares at an average price of Rs 1,065.7 in Suyog Telematics. It held a 15.07 percent stake in the company as per the shareholding pattern of December 2023. NHIT Global bought a 0.67 percent stake at Rs 1,065.7 apiece, while Destinations International picked up a 0.75 percent stake at Rs 1,065.7 apiece. Shares of Suyog Telematics closed 1.79 percent higher at Rs 1,084.8.