Sheela Foam tanks 7% after advertisers propose to sell stake
NEW DELHI: Shares of Sheela Foam slipped 7 percent on Wednesday after the organization said advertisers Rahul Gautam and Tushaar Gautam have proposed to offer up to 8.68 percent stake in the organization. The floor cost is set at Rs 1,100.
The scrip slipped almost 7 percent to hit a low of Rs 1201.75. Afterward, the scrip was floating at Rs 1256.30, down 2.61 percent at 10:56 am. This was against 0.61 percent ascend in the BSE Sensex.
“The advertisers will sell 42,33,764 value shares speaking to 8.68 percent of the absolute paid up value share capital of the organization, with a choice to sell a further 4,87,828 value shares each speaking to 1 percent stake for the two advertisers,” the organization said in a BSE documenting.
The floor cost is set at Rs 1,100 for each offer and the deal will occur more than two exchanging days beginning March 27.
Prior in the day, the stock opened at Rs 1222 on BSE against its past shutting of Rs 1290.
The offers of the organization shut 3.35 percent down at Rs 1246.80 on BSE.
Offer market update: Realty shares blended; Prestige Estates slips 3%
NEW DELHI: Realty shares were exchanging on a blended note in Wednesday’s morning session.
Offers of Sobha (up 2.54 percent), Brigade Enterprises (up 0.55 percent), Godrej Properties (up 0.35 percent) and Indiabulls Real Estate (up 0.22 percent) were the top gainers in the file.
Renown Estates Projects (down 3.27 percent), Sunteck Realty (down 1.01 percent), DLF (down 0.69 percent) and Phoenix Mills (down 0.45 percent) were exchanging with misfortunes.
The Nifty Realty list was exchanging 0.34 percent down at 263.15 around 11:19 am.
Benchmark NSE Nifty50 list was up 57.75 focuses at 11,541 while the BSE Sensex was up 219.12 focuses at 38,452.53.
Among the 50 stocks in the Nifty record, 34 were exchanging the green, while 16 were in the red.
Offers of YES Bank, SBI, ICICI Prudential Life Insurance Company, Ashok Leyland, NTPC, SAIL, Bank of Baroda and ICICI Bank were among the most exchanged offers on the NSE.