Tag: Promoters’ Stake

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  Uno Minda’s Equity Transaction: A Closer Look at the Recent Block Deal

  In a move that set the stock market abuzz, Uno Minda, a prominent name in the auto components manufacturing sector, recently experienced a subtle shift in its share price trajectory. The cause? A significant equity exchange that witnessed the trading of 74.1 lakh shares, valued at Rs 447 crore. This large-scale transaction, constituting 2.6 percent of the company's equity, triggered a minor dip of nearly one percent in Uno Minda's share value. The curtain was lifted on the strategic intentions of the company's promoters, who were seeking to diversify their holdings by selling up to 2 percent of the company's stake through block deals. The floor price of Rs 602 per share, marginally below the previous day's closing price, added an element of intrigue to the equation. While the stock had showcased a commendable 16 percent growth throughout 2023, the market's response to this equity exchange provided investors with much to ponder. As Uno Minda's narrative continues to unfold, market participants eagerly anticipate the next chapter in this dynamic tale.