HomeBusinessCompaniesBulk Deals: Ashish Kacholla Sells Rs 15.57 Cr Stake In Venus Pipes...

Bulk Deals: Ashish Kacholla Sells Rs 15.57 Cr Stake In Venus Pipes & Tubes

Ashish Kacholia sells 1.03 lakh Venus Pipes & Tubes shares, worth Rs 15.57 crore; Skipper promoters divest 1.94% stake, Rs 8.11 crore.

Ace Investor Ashish Kacholia executed a notable transaction in the stock market, selling 1.03 lakh shares of Venus Pipes & Tubes on the NSE. The shares were divested at an average price of Rs 1,511.68 each, with the total transaction value amounting to Rs 15.57 crore. This sale translated into a 0.51 percent reduction in Kacholia’s stake in the company.

Following this development, Venus Pipes and Tubes experienced a positive market response, witnessing a surge of 2.57 percent in its share prices, reaching Rs 1,489.5 on January 30.

Simultaneously, in the case of Skipper, a strategic move was made by the promoters. Entities including SK Bansal Unit Trust, SK Bansal Heritage Trust, SK Bansal Family Trust, and SK Bansal Legacy Trust collectively sold 20 lakh shares, representing a 1.94 percent stake in the company. The total worth of this stake divestment in Skipper amounted to Rs 8.11 crore. As of December 2023, the combined promoter holding in Skipper stands at 71.89 percent.

Despite these significant transactions, the market response for Skipper was more subdued. The company’s shares closed flat at Rs 237.5, indicating a stable performance in the aftermath of the promoter stake sale.

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