Aditya Birla Sun Life, LIC, Bank of India mutual funds buy stakes in Manorama Industries

Stock Market Today: LIC Mutual Fund, Aditya Birla Sun Life Mutual Fund, and Bank of India mutual fund bought stakes in Manorama Industries through block deals, suggested data on the BSE.

Manorama Industries' promoters, namely Shrey Ashish Saraf, Vinita Ashish Saraf and Agastya Saraf and shareholder Ritu Saraf offloaded stakes on Tuesday, which LIC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Bank of India mutual fund picked. The offloaded stakes by promoters and shareholders, and bought by mutual funds are worth around ₹200 crore and represent a nearly 3% stake.

Stakes Sold by Promoters

Vinita Ashish Saraf sold 131,279 shares, 272,733 shares, and 818,180 shares in three transactions totalling around 12,22,192 shares (12.22 lakh shares). The shares sold by Vinita Ashish Saraf at ₹1,100 apiece represent around a 2.05% stake in the company.

Agastya Ashish Saraf sold 148,998 shares, representing around 0.25% stake. Agstya Ashish Saraf also sold these shares at ₹1,100 a piece.

Shreya Ashish Saraf also sold 148,998 shares, representing around 0.25% stake in Manorama Industries, at ₹1,100 a piece. Meanwhile, Ritu Saraf sold 297,995 shares, representing a 0.5% stake in Manorama Industries at a similar price of ₹1,100 a share.

Stakes Bought by Mutual Funds

Around 3.05% of stakes sold by promoters and a shareholder in Manorama Industries were bought by mutual funds.

LIC Mutual Fund bought 7.27 lakh shares in four tranches, representing around 1.22% stake. LIC Mutual Fund picked the stocks at ₹1,100 apiece.

Aditya Birla Sun Life Mutual Fund acquired a maximum of 8.18 lakh shares in two block deals, representing around 1.37% stake. Aditya Birla Sunlife also bought the shares at ₹1,100 apiece.

Bank of India Mutual Fund, meanwhile, bought around 2.7 lakh shares in several block deals. Bank of India Mutual Fund bought around 0.45% stake at ₹1,100 per share.

Multibagger returns by Manorama Industries

Manorama Industries share price has risen 171% year-to-date, giving multibagger returns to the investors.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.