UBS sells shares worth Rs 480 crore in Concord Biotech, IIFL Securities, 2 more stocks via block deals

UBS was on a selling spree on Friday as the Zurich-based bank and financial services company sold its holding in four stocks through UBS Principal Capital Asia Limited via block deals. The stocks included Concord Biotech, Five Star Business Finance, IIFL Securities and Marksans Pharma and the total share sale aggregated to Rs 480 crore.

UBS Principal sold 7,40,159 lakh shares worth Rs 192 crore at a price of Rs 2,589.86 per share which was a 15% premium over the Thursday closing price of Rs 2,250.55. The stock today ended at Rs 2,591, gaining Rs 340.45 or 15.13%.

In Five-Star Business Finance, UBS Principal sold 15,80,163 shares at a price of Rs 804.74 a piece. The total sale was worth Rs 127 crore. The shares were sold at a premium of 4.4% over previous session’s closing price of Rs 770.75. The stock today settled at Rs 811, gaining by Rs 40.25 or 5.22%.

In IIFL Securities, UBS Principal sold 17,10,992 shares which were worth Rs 53 crore. The selling price was Rs 309.84 per share which was a discount of 2% over Thursday closing price of Rs 316.45. The stock settled at Rs 330 on the NSE, gaining by Rs 13.55 or 4.28%.

In Marksans Pharma UBS Principal sold 34,01,630 shares for a price of Rs 108 crore. The shares were sold at Rs 317.22 which was at a premium of 16% over Thursday’s closing price of Rs 274.44. The shares ended at Rs 327.97 on the NSE, jumping by Rs 53.53 or 19.51%. Marksans also hit a 52 week high of Rs 328.80.

Also Read: Sebi relaxes financial disincentives norms for technical glitches, restricts it to Market Infrastructure Institutions(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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