On Monday, December 28, 2020, Nippon India MF acquired 6.61 million equity shares, representing 5.9 per cent of total equity of Fineotex Chemical, for about Rs 30 crore through block deal on the BSE, the exchange data shows. The domestic mutual fund bought shares for its scheme Nippon India Small Cap Fund at price of Rs 45.25 per share, data shows.
Surendra Deviprasad Tibrewala, the promoter of Fineotex Chemical, sold 7.8 million equity shares, or 7.04 per cent stake, in the company at price of Rs 45.22 per share via block deal, data shows. The names of the other buyers were not ascertained immediately.
At 09:39 am, the stock was trading 11 per cent higher at Rs 60.05 on the BSE, as compared to 0.58 per cent gain in the S&P BSE Sensex. A combined 1.9 million equity shares had changed hands on the counter on the NSE and BSE.
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