Home / Business and Economy / Federal Bank Sees Major Stake Sale
Federal Bank Sees Major Stake Sale
1 Jun
Summary
- BNP Paribas and Integrated Core Strategies sold 5.27 crore Federal Bank shares.
- Anand Rathi Financial Services sold 1.74% stake in Anand Rathi Wealth.
- Institutional investors rebalanced portfolios amid market volatility.
On Thursday, significant stake sales occurred in Federal Bank and Anand Rathi Wealth, alongside other block deals. BNP Paribas Financial Markets and Integrated Core Strategies (Asia) Pte collectively sold 5.27 crore shares in Federal Bank through NSE block deals, amounting to substantial value but leaving Federal Bank's stock price largely unchanged.
Anand Rathi Financial Services also offloaded a 1.74% stake in Anand Rathi Wealth, comprising 14.46 lakh shares valued at approximately Rs 500 crore. BNP Paribas further reduced holdings in MCX and NALCO.
Conversely, Integrated Core Strategies (Asia) increased its exposure by acquiring shares in Kalyan Jewellers India and Rail Vikas Nigam (RVNL). Other notable transactions included iShares Core MSCI Emerging Markets ETF selling GMM Pfaudler shares and Prazim Trading acquiring units of Anzen India Energy Yield Plus Trust.
These transactions collectively reflect a dynamic market scenario with institutional investors actively adjusting their portfolios in response to market volatility and emerging opportunities.
