Trend

Good Timing

Aurobindo Pharma promoters sell over 10 million shares in a market transaction valued at ₹900 crore

A day after Aurobindo Pharma hit its 52 week high of Rs.895, promoters K Nithyananda Reddy and P Suneela Rani sold over 10 million shares at an average price of Rs.822 a share in a market transaction valued at Rs.900 crore. Currently the stock trades at Rs.823. Post this transaction K Nithyananda Reddy's stake is down from 4.70% to 4.33% and P Suneela Rani's stake reduced from 35.04% to 33.56%.

While the buyers are yet to be known, the chunk must have crossed over to institutional investors. In FY16, the compa

unsub

You don’t want to be left behind. Do you?

Our work is exclusively for discerning readers. To read our edgy stories and access our archives, you’ve to subscribe