SBI Mutual Fund Unloads 2.43% Stake In Nazara Technologies, Stock Surges Over 6%
SBI Mutual Fund sold a 2.43 per cent stake in Nazara Technologies for about Rs 216 crore through open market transactions on the NSE. The fund offloaded around 90 lakh shares at an average price of about Rs 240 each, reducing its holding to 3.35 per cent. Nazara shares ended over six per cent higher on both exchanges.
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New Delhi: SBI Mutual Fund on Monday divested a 2.43 per cent stake in gaming and e-sports company Nazara Technologies for Rs 216 crore through open market transactions. According to the bulk deal data available on the stock exchanges, SBI Mutual Fund (MF) offloaded 45.09 lakh shares of Nazara Technologies on the NSE, while it sold 45 lakh scrips, amounting to a combined 2.43 per cent stake in the gaming and e-sports company.
The shares were disposed of in the price range of Rs 240.03-240.18 apiece, taking the transaction value to Rs 216.32 crore. After the latest transaction, SBI MF's holding in Nazara Technologies has come down to 3.35 per cent from 5.78 per cent. Details of the buyers of Nazara Technologies' shares could not be ascertained on the exchanges. Shares of Nazara Technologies climbed 6.68 per cent to close at Rs 253.05 apiece on the BSE, while the scrip of the company rose 6.15 per cent to finish at Rs 252 per piece on the NSE.
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