A2Z Maintenance and Engineering Services has tanked 13% to Rs 22.40, extending its 20% fall in past three trading sessions on BSE after the company said investor Rakesh Jhunjhunwala and his family sold more than one million shares of the company through open market transaction.
The stock opened at Rs 25.85 and has seen a combined 2.08 million shares changing hands on the counter so far on BSE and NSE.
“Rakesh Jhunjhunwala, along with Rajeshkumar Jhunjhunwala, Rekha Jhunjhunwala and Sushila Gupta collectively sold 1.03 million shares representing 1.39% stake in the company on March 7 and March 8,” according to disclosure made by the company on NSE.
Post sale, the combined holding of these entities has declined to 19.91%, the company said.
Rakesh Jhunjhunwala and his family which held 22.68% stake in the company at the end of September 2012 quarter have reduced their holdings by around 3 percentage points in the past six months.
Meanwhile, the stock has underperformed the market by falling 68% on BSE compared to 3.8% rise in benchmark index Sensex in past six months.
The stock opened at Rs 25.85 and has seen a combined 2.08 million shares changing hands on the counter so far on BSE and NSE.
“Rakesh Jhunjhunwala, along with Rajeshkumar Jhunjhunwala, Rekha Jhunjhunwala and Sushila Gupta collectively sold 1.03 million shares representing 1.39% stake in the company on March 7 and March 8,” according to disclosure made by the company on NSE.
Post sale, the combined holding of these entities has declined to 19.91%, the company said.
Rakesh Jhunjhunwala and his family which held 22.68% stake in the company at the end of September 2012 quarter have reduced their holdings by around 3 percentage points in the past six months.
Meanwhile, the stock has underperformed the market by falling 68% on BSE compared to 3.8% rise in benchmark index Sensex in past six months.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%