Shares of Ambuja Cements Ltd., fell from the opening highs to decline as much as 1% after a large deal that took place in the stock.

As many as 1.48 crore shares or 0.6% of the total equity changed hands in the large transaction as per the data available.

Shares changed hands at average price of ₹586 per share, which takes the total transaction value to ₹909 crore.

Buyers and sellers of the transaction are not yet officially known.

Based on the September quarter shareholding pattern, promoter stake of Ambuja Cements fell from 70.33% in June to 67.57%.

India's Mutual Funds increased their stake in Ambuja Cements from 5.53% at the end of June, to 6.35% in September.

Shareholding of Foreign Portfolio Investors (FPIs) in the cement major has also increased to 10.6%, from 9.59% at the end of the June quarter.

The stake held by retail shareholders, those with authorised share capital of less than ₹2 lakh, fell marginally to 4.58% from 4.67% in the June quarter.

However, the total number of retail shareholders increased from 5.83 lakh in June to 5.9 lakh at the end of the September quarter.

Shares of Ambuja Cements are currently trading 0.75% lower at ₹585.7. The stock has risen 9.6% so far in 2024.

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Published on:October 16, 2024, 9:51:39 AM IST