State Bank of India (SBI), Punjab National Bank (PNB), IDBI Bank and Allahabad Bank have offloaded shares of Jindal Stainless worth nearly Rs 94 crore in open market transactions.
According to the bulk deal data on NSE, a total of 2,42,52,851 shares were sold by the lenders at an average price of Rs 38.65 apiece. This took the total deal value to Rs 93.74 crore.
Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.