Parekh brothers sell 6.02 pc stake in Jyoti CNC Automation for Rs 1,489 cr

New Delhi, Jun 30 (PTI) Individual investors Paresh Mohanlal Parekh and Vijay Mohanlal Parekh divested a total of 6.02 per cent stake in Jyoti CNC Automation for Rs 1,489 crore through open market transactions on Monday, the exchange data showed.

According to the bulk deal data on the NSE, Paresh and Vijay Parekh offloaded 68.50 lakh shares each of Gujarat-based Jyoti CNC Automation.

The transaction was executed in the price range of Rs 1,087.01-1,087.45 apiece, taking the deal value to around Rs 1,489.50 crore.

After the latest transaction, Parekh brothers' holding in Jyoti CNC Automation declined to 4.8 per cent from 10.82 per cent.

Meanwhile, Kotak Mutual Fund (MF) bought 37.92 lakh shares or 1.66 per cent holding in Jyoti CNC Automation for Rs 412 crore. The shares were picked up at an average price of Rs 1,087 per piece.

Following the stake buy, Kotak MF's holding in Jyoti CNC Automation rose to 4.3 per cent from 2.64 per cent..

Details of the other buyers of Jyoti CNC Automation's shares could not be ascertained on the exchange.

Shares of Jyoti CNC Automation declined 5.74 per cent to close at Rs 1,061 apiece on the NSE..

In July last year, the Parekh brothers divested a 4.2 per cent stake in Jyoti CNC Automation for Rs 1,079 crore.

In a separate bulk deal on the NSE, Singapore-based Cube Mobility Investments sold more than 1.24 crore units or 0.93 per cent unitholding in Cube Highways Trust (Cube InvIT) for Rs 159 crore.

These units were offloaded at an average price of Rs 127.50 per unit, taking the transaction value to Rs 158.73 crore.

Meanwhile, the Mumbai-based ASK Asset & Wealth Management Group bought 70 lakh units or 0.52 per cent unitholding in Cube InvIT at the same price. This took the deal value to Rs 89.25 crore.

Details of the other buyers of Cube InvIT's units could not be identified on the National Stock Exchange (NSE).

The units of Cube Highways Trust ended flat at Rs 127.50 a unit on the NSE.

On Friday, Cube Mobility Investments offloaded 79.25 lakh units or 0.59 per cent unitholding in Cube Highways Trust for Rs 101 crore. Prior to that, it divested a 3.62 per cent unitholding in Cube InvIT for Rs 615 crore. PTI HG MR