PNB cuts stake in Bajaj Hindusthan Sugar

Punjab National Bank (PNB) offloaded 2,27,12,389 equity shares, or 2.004% stake, of Bajaj Hindusthan Sugar between 29 June 2021 and 15 July 2021.

Post transaction, PNB has decreased its stake in Bajaj Hindusthan Sugar to 9.23% from 11.23% held earlier. The deal was executed as an open market sale.

Bajaj Hindusthan Sugar is a sugar and ethanol manufacturing company. Its consolidated net profit rose 6.4% to Rs 112.48 crore on a 7.3% jump in net sales to Rs 1,998.51 crore in Q4 March 2021 over Q4 March 2020.

Shares of Bajaj Hindusthan Sugar hit an upper circuit of 5% at Rs 20.15 on BSE.

 

Meanwhile, Punjab National Bank (PNB) lost 0.73% to Rs 40.55 on BSE. The stock traded in the range of Rs 40.40 to Rs 40.70 during the day.

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