VRL Logistics shares gained 3% during the trade session on 11 September after SBI Mutual Funds picked up a 2.2% equity stake in the company.
SBI Mutual Funds picked up 19.29 lakh shares, representing 2.2% of the total equity of the company through an open market transaction at an average price of Rs 681 per share.
The total value of the order came up to Rs 131.36 crore.
One of the company’s promoters, Anand Vijay Sankeshwar, sold a 4% stake in VRL logistics at an average price of Rs 681.08 per share. The deal was valued at Rs 238.4 crore.
When the news of the bulk deal hit on 8 September, the shares of the company fell over 4%.
At 3:30 pm, the shares of VRL Logistics closed at Rs 720.10 or 2.25% above its previous close on NSE.