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Macquarie Bank sells 11.25 lakh shares of Grasim Industries

19 Jul 2017 Evaluate

Macquarie Bank has sold 11.25 lakh shares or 0.24 percent stake of Aditya Birla Group firm Grasim Industries for over Rs 146 crore through open market transaction. The shares were sold at an average price of Rs 1,303 apiece, valuing the transaction at Rs 146.58 crore. Moreover, the shares were purchased by India Opportunities Growth Fund - Pinewood Strategy.

Grasim Industries is the flagship company of the Aditya Birla Group. Starting as a textiles manufacturer in 1948, today Grasim’s businesses comprise viscose staple fibre (VSF), cement, chemicals and textiles. Its core businesses are VSF and cement, which contribute to over 90% of its revenues and operating profits.

Peers
Company Name CMP
Grasim Industries 2872.70
DCM Shriram 962.25
3M India 30184.85
Hindustan Foods 573.60
Balmer Lawrie & Co 156.15
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