 "HSBC sells Reliance Infra shares worth Rs 144 cr")
HSBC on Tuesday offloaded about 2.6 million shares of the Anil Ambani-led Reliance Infrastructure for an estimated Rs 144 crore, through an open market transaction.
The shares were picked up by AGF Emerging Markets Fund.
According to block deal data available with the stock exchanges, the foreign lender sold a total of 26,57,142 shares, amounting to 1.01 per cent stake, of Reliance Infrastructure, through its subsidiary, HSBC Bank Mauritius Ltd.
HSBC Bank Mauritius held 1.5 per cent stake in the company at March-end.
The scrips were purchased on an average price of Rs 541.5, valuing the transaction at Rs 144 crore.
During January-March quarter, Reliance Infra reported 43.7 per cent jump in consolidated net profit to Rs 660 crore. However, total operating income declined to Rs 4,469 crore, from Rs 4,596 crore in fourth quarter of 2014-15.
Shares of Reliance Infra on Tuesday rose 1.36 per cent to settle the trade at Rs 543.45 apiece on the BSE.
The shares were picked up by AGF Emerging Markets Fund.
According to block deal data available with the stock exchanges, the foreign lender sold a total of 26,57,142 shares, amounting to 1.01 per cent stake, of Reliance Infrastructure, through its subsidiary, HSBC Bank Mauritius Ltd.
HSBC Bank Mauritius held 1.5 per cent stake in the company at March-end.
The scrips were purchased on an average price of Rs 541.5, valuing the transaction at Rs 144 crore.
During January-March quarter, Reliance Infra reported 43.7 per cent jump in consolidated net profit to Rs 660 crore. However, total operating income declined to Rs 4,469 crore, from Rs 4,596 crore in fourth quarter of 2014-15.
Shares of Reliance Infra on Tuesday rose 1.36 per cent to settle the trade at Rs 543.45 apiece on the BSE.
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