New World Fund Inc and Smallcap World Fund Inc sell Vakrangee Ltd shares

New World Fund Inc. and Smallcap World Fund Inc. had sold the shares of Vakrangee Limited in bulk deals on February 19, 2018 at the National Stock Exchange of India (NSE). The shares were lapped up by Martin Currie Global Emerging Markets Fund. The stock was locked at the lower circuit limit of 5% at Rs. 232.80, down by Rs. 12.25.



The company's share price has recently plunged from over Rs. 400 to Rs. 182 due to concerns raised on its treasury holdings and SEBI probe. SEBI later clarified that there is no probe against Vakrangee Ltd, after which the stock started rising and hit a high of Rs. 257.30 yesterday.

New World Fund Inc. sold 10610539 shares at a price of Rs. 253.27. It had 14400000 equity shares or 1.36% stake in the company as per the shareholding pattern submitted to the stock exchanges as of December 31, 2017.

Smallcap World Fund Inc. sold 5312638 equity shares at a price of Rs. 253.27.

Martin Currie Global Emerging Markets Fund bought 7133259 equity shares at a price of Rs. 257.3. The buyers of the balance shares are unknown.

The traded volume in NSE was 3,49,31,688 equity shares and the deliverable quantity was at 76.31% (2,66,58,031 equity shares). The total traded value was Rs. 86,703.94 lacs.

The face value of the stock is Rs. 1. The stock hit a 52 week low of Rs. 153.60 on March 7, 2017 and the 52 week high of Rs. 515 was hit on January 24, 2018.



Shares of Vakrangee Limited-$ was last trading in BSE at Rs.233.2 as compared to the previous close of Rs. 245.45. The total number of shares traded during the day was 5723912 in over 9960 trades.

The stock hit an intraday high of Rs. 257.7 and intraday low of 233.2. The net turnover during the day was Rs. 1417967800.

Source : Equity Bulls

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