Bulk Deals | Ashish Chugh picks stake in Cravatex, Madhuri Madhusudan Kela buys additional shares in Sangam India

Bulk Deals | Ashish Chugh picks stake in Cravatex, Madhuri Madhusudan Kela buys additional shares in Sangam India

D-Link India was down nearly 4 percent to Rs 225. Ace investor Ashish Kacholia has sold further 3.69 lakh equity shares in the networking products manufacturer at an average price of Rs 227.91 per share.

Sunil Shankar Matkar

June 14, 2023 / 09:30 PM IST

Stocks

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Well-known investor Ashish Chugh and market veteran Madhusudan Kela’s wife Madhuri Madhusudan Kela bought shares in Cravatex and Sangam India, respectively, while Ashish Kacholia has pared more stake in D-Link India via open market transactions on June 14.

Veteran investor Ashish Chugh has bought 15,000 equity shares, which is equivalent to 0.58 percent of the total shareholding in Cravatex, the retail, brand licensing, distribution and sourcing company. These shares were purchased at an average price of Rs 326.71 per share.

Cravatex shares recorded stellar performance on the same day, rising 15.5 percent to Rs 370.25. In October last year, footwear retail chain Metro Brands acquired a 100 percent shareholding of Cravatex Brands, which has an exclusive long-term license with the Italian sportswear brand FILA, owns sportwear brand Proline, and represents other international brands.

Among other deals, market veteran Madhusudan Kela’s wife Madhuri Madhusudan Kela has bought additional 8.4 lakh shares or a 1.67 percent stake in Sangam (India), the textiles and apparels company, at an average price of Rs 268 per share.

However, non-resident Indian investor Satpal Khattar has sold 9 lakh shares in the company at an average price of Rs 268.04 per share.

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Madhuri Madhusudan Kela held 4.18 percent stake in Sangam (India), while the shareholding by Satpal Khattar in the company was 1.89 percent or 9.47 lakh shares as of March 2023.

Sangam (India) shares, too, were in action, rising 17.6 percent to Rs 334.15 on the NSE.

V-Mart Retail was also in focus, as foreign portfolio investor Amansa Holdings has purchased additional 3.37 lakh equity shares or a 1.7 percent stake in small size hypermarket chain V-Mart Retail at an average price of Rs 1,990 per share, which amounted to Rs 67.22 crore.

Amansa Holdings already held a 6.83 percent stake in the company. The stock jumped 6 percent to Rs 2,100.

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However, foreign portfolio investor T Rowe Price International Discovery Fund sold 3.77 lakh shares in V-Mart at an average price of Rs 1,990.43 per share. T Rowe held a 2.07 percent stake or 4.08 lakh shares in the company.

D-Link India was down nearly 4 percent to Rs 225. Ace investor Ashish Kacholia has sold further 3.69 lakh equity shares in the networking products manufacturer at an average price of Rs 227.91 per share.

Ashish had sold 1.94 lakh shares at an average price of Rs 228.5 per share on June 7 as well, while as of March 2023, his shareholding in the company was 2.11 percent or 7.5 lakh shares.

AAVAS Financiers was also in focus, as Smallcap World Fund Inc has sold 12.84 lakh equity shares or a 1.6 percent stake in Jaipur-based housing finance company at an average price of Rs 1,349.94 per share. The stake sale was worth Rs 173.43 crore.

AAVAS Financiers closed flat at Rs 1,350.40.

Welspun India shares fell 2.2 percent to Rs 93.35. Foreign portfolio investor Infinity Holdings has offloaded 94.88 lakh shares or 0.96 percent stake in the textile business company at an average price of Rs 93.61 per share.

However, Europe-based financial services group Societe Generale was the buyer for some of those shares in Welspun, acquiring 50 lakh shares or half a percent stake at an average price of Rs 93.5 per share.

Aurionpro Solutions was locked in a5 percent upper circuit at Rs 953.55, wherein Sumeet Nagar’s Malabar India Fund has bought 2.63 lakh shares or 1.15 percent stake at an average price of Rs 880.23 per share.

However, foreign portfolio investor Indusvaley Holdings Pte Ltd sold 2 lakh shares in the technology company at an average price of Rs 881.38 per share. It held a 2.61 percent stake or 5.95 lakh shares in the company as of March 2023.

Central Depository Services shares corrected more than 3 percent to close at Rs 1,014. The BSE (Bombay Stock Exchange) has sold 47.44 lakh equity shares or a 4.5 percent stake in CDSL at an average price of Rs 985.98 per share, amounting to Rs 467.74 crore. The exchange had held a 20 percent stake in CDSL as of March 2023.

ICICI Prudential Technology Fund was the buyer for some of those shares, purchasing 5.28 lakh shares in CDSL at an average price of Rs 985 per share.

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