 "Hydra Trading sells 1.24% stake in RBL Bank for ₹152 crore, as shares plummet, while Plutus Wealth acquires SpiceJet shares.")
Hydra Trading has sold a 1.24 percent stake in RBL Bank for over Rs 152 crore through an open Market transaction. The sale involved 75.11 lakh shares, averaging Rs 203 each. As of the end of June, Hydra Trading held a 1.25 percent stake in the private lender. Following the transaction, RBL Bank’s shares fell by 1.57 percent to close at Rs 204.35. Additionally, Plutus Wealth Management purchased 0.66 percent of SpiceJet for Rs 51 crore, with SpiceJet’s shares rising almost 8 percent afterward. In another Market move, Morgan Stanley sold shares of Cyient DLM, while HDFC Mutual Fund increased its stake in the same company, further altering the investment landscape.
Hydra Trading Sells 1.24% Stake in RBL Bank for Over Rs 152 Crore
On September 30, 2024, Hydra Trading Pvt Ltd sold a 1.24% stake in RBL Bank, a prominent private sector lender, through an open Market transaction valued at over Rs 152 crore. The sale involved 75.11 lakh shares, which were sold at an average price of Rs 203 each. This significant transaction resulted in a total deal value of Rs 152.49 crore.
As of the end of June, Hydra Trading owned a 1.25% stake in the Mumbai-based bank, further highlighting the scale of this divestment. Following the announcement, shares of RBL Bank witnessed a decline of 1.57%, closing at Rs 204.35 on the Bombay Stock Exchange.
In related Market activity, Plutus Wealth Management purchased a 0.66% stake in SpiceJet for Rs 51 crore, while Morgan Stanley disposed of shares of Cyient DLM. HDFC Mutual Fund also increased its stake in Cyient DLM by acquiring an additional 0.50% of shares.
With these transactions, investors are keenly observing the shifts in shareholder dynamics within prominent companies in India.
For more updates on the financial Market and investment strategies, stay tuned.
Tags: RBL Bank, Hydra Trading, stock Market, shares, investment news, SpiceJet, Cyient DLM, HDFC Mutual Fund, financial transactions, Market trends.
-
What does Hydra Trading do with its stake in RBL Bank?
Hydra Trading sold a 1.24% stake in RBL Bank, meaning they sold part of their ownership in the bank. -
How much money did Hydra Trading get from the sale?
They received Rs 152 crore from selling the stake. -
Why did Hydra Trading sell this stake?
The company may have sold the stake for various reasons, like needing cash or wanting to invest elsewhere. -
What does a 1.24% stake mean?
A 1.24% stake means Hydra Trading owned a small portion, just a little over one percent, of RBL Bank. - Where did the sale take place?
The sale happened in the open Market, meaning it was done publicly where buyers and sellers trade shares.
