Sunteck Realty gains after Starlight Systems, Satguru Infocorp sell off entire holding

As of September 2023 data, promoter holding in Sunteck Realty was around 67 percent.

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The Sunteck Realty stock gained 0.69 percent to Rs 480.25 at the open on December 14, a day after promoters Starlight Systems and Satguru Infocorp exited the company by selling their entire stake. It was trading in the red at Rs 478.50 at close on December 13.

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On December 13, the Sunteck Realty promoters sold off their shareholding in open market deals. While Starlight Systems sold 30 lakh shares at a price of Rs 479.47 each and Satguru Infocorp Services offloaded 30 lakh shares at Rs 481.65 each (4.1 percent of paid-up equity valued at Rs 288.3 crore). Schroder International Selection Fund Emerging Asia bought 10,36,718 equity shares in Sunteck at na average of Rs 474.71. As of September 2023 data, promoter holding in Sunteck Realty stood at 67 percent.

On December 12, stocks of Sunteck Realty fell around 4 percent on news that around 69 lakh shares, representing a 4.75 percent equity in the company, changed hands on the exchanges at an average floor price of Rs 482 apiece.

Also read: Gainers and Losers: 10 stocks that moved the most on December 13

Sunteck Realty is a luxury real estate developer in both the residential and commercial space. In Q2FY24, the company reported a net loss of Rs 13.94 crore for the quarter ending September 2023, against a Rs 2.33 crore net profit in the previous quarter.

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