Apollo Hospitals Enterprise has tanked 11% to Rs 775 on the back of heavy volumes in opening trades on reports that CLSA plans to offload its stake in the company for $135 million (approx. Rs 750 crore). "CLSA is selling its 6.15% stake in a range of Rs 824 to Rs 876 a share," reports suggest.
The stock opened at Rs 864 and has seen a combined 9.32 million shares representing 10.84% of total free-float of equity of the company changing hands on the counter against an average around 300,000 shares that were traded daily in past two weeks on the BSE and NSE.
CLSA, which is the fourth-biggest shareholder of the Indian hospitals and pharmacy chain, held 6.15% stake or 8.55 million shares as on September 30, 2012, the BSE data shows.
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 →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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