JM Financial has reduced its stake in Dalmia Group firm Golden Tobacco by 2.41 per cent to 3.78 per cent.
The company offloaded 4.25 lakh shares, or 2.41 per cent stake, on October 28. Based on the weighted average price of the stock at Rs 63.56 per scrip on October 28, the transaction is valued at Rs 2.70 crore.
JM Financial, which had 6.19 per cent stake earlier, brought down its shareholding in the company to 3.78 per cent by selling shares on October 28, Golden Tobacco said in a BSE filing.
Golden Tobacco has cigarette brands as Panama, Taj Chhap Deluxe, Style Mini Kings, Chancellor, Platinum, Flair Kings and June Slim.
It also sells cigars under the brand name of Just Black and Lips.
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