Ambuja Cements Sees ₹909 Crore Bulk Deal, Promoter Stake Drops

16 Oct 2024 , 02:52 PM

Ambuja Cements Ltd. shares witnessed a decline of 1% after a large-scale transaction took place. In the large deal, 1.48 Crore shares, representing 0.6% of the total equity, were traded.

The shares were exchanged at an average price of ₹586 per share, resulting in a total transaction value of ₹909 Crore. Details of the buyers and sellers involved in this transaction have not yet been revealed.

At the time of writing on October 16, 2024 at 12:59 pm, shares of Ambuja Cements Ltd is trading at ₹592.70 which is a 0.40% gain than the previous close. Ambuja Cements Ltd has gained 33% in the last one year, and 10% since the beginning of the year.

According to the September quarter shareholding data, the promoter’s stake in Ambuja Cements decreased from 70.33% in June to 67.57% in September.

India’s mutual funds increased their stake in the company, rising from 5.53% in June to 6.35% by the end of September. Foreign Portfolio Investors (FPIs) also increased their holdings in Ambuja Cements, moving from 9.59% in June to 10.6% in September.

The stake held by retail shareholders (those with an authorized capital of less than ₹2 lakh) saw a slight dip, falling from 4.67% in June to 4.58% in September.

Despite the marginal reduction in stake, the number of retail shareholders increased from 5.83 lakh in June to 5.9 lakh by the end of the September quarter.