Swan Energy stock falls as FPI Hypnos Fund offloads 1.24% stake

As of September 2023, Hypnos Fund held 32,92,758 equity shares or 1.25% stake in Swan Energy.

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Shares of Swan Energy fell 1 percent at the open on December 28, a day after foreign portfolio investor Hypnos Fund offloaded 1.24 percent stake in the diversified business group. At 9:20am, the stock was trading at Rs 503. Over the last six months, it has gained over 96.56 percent.

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Foreign portfolio investor Hypnos Fund sold 32,82,958 equity shares in Swan Energy through open market transactions, according to exchange data. The shares were offloaded at an average price of Rs 500.58 per share, amounting Rs 164.33 crore.

As of September 2023, Hypnos Fund held 32,92,758 equity shares or 1.25% stake in Swan.

Earlier this month, foreign investor 2i Capital PCC offloaded shares worth Rs 151.04 crore in Swan Energy in the open market. It sold 15.9 lakh shares at an average price of Rs 437.51 per share, and 19 lakh shares at an average price of Rs 428.81 per share.

Also read: On the Q2 trail: 7 BSE 500 companies more than double their sales

In Q2FY24, the company reported net Sales of Rs 1,223.26 crore in September 2023 up from Rs. 143.47 crore in September 2022. Quarterly Net Profit also grew to Rs. 84.58 crore in September 2023 from Rs. 31.96 crore in September 2022. EBITDA for the same period was Rs. 263.81 crore against Rs. 3.87 crore in September 2022.  Swan Energy is a business group in sectors such as textile, energy, construction and Power Generation, amongst others.

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