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NSE-BSE Bulk Deals: Delta Corp sells stake in Advani Hotels; stock tanks 20%

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  • Grimasharma
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    Delta Corp sells stake in Advani Hotels; stock tanks 20. The Indian conglomerate's move comes as the company posts a net loss of Rs 2,254 crore for the first quarter of fiscal 2019. Delta said it will sell its 17% stake in the company for Rs 4,827 crore in a bulk deal with anchor investors including State Bank of India and SBI Capita Asset Management. The firm's shares tanked 20% on the news and are down 5.

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  • NSE-BSE Bulk Deals: Delta Corp sells stake in Advani Hotels; stock tanks 20%

    Casino and gaming company Delta Corp offloaded 2.83 lakh shares of Advani Hotels & Resorts on Wednesday at an average price of Rs 90.39 per share, bulk deal data published on NSE showed.

    This amounts to a 0.61 per cent stake in the firm as of December quarter shareholding data. Delta Corp held a 33.63 per cent stake in Advani Hotels & Resorts. From the sale, Delta Corp collected Rs 2.56 crore.

    Earlier in the day, the stock tanked 20 per cent hitting the lower circuit.

    In another transaction, IIFL Wealth Prime sold 36 lakh units of India Infrastructure Trust at Rs 98.50 per share, bulk deal data published on BSE showed. Rapid Holdings 2 Pte also offloaded 50 lakh units of the InvIT at Rs 98 apiece.
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