UK-based hedge fund Marshall Wace sold shares of One97 Communications and Shriram Finance for a total of Rs 419 crore. The shares were sold through separate transactions on the National Stock Exchange.
Marshall Wace sold 5.85 lakh shares of One97 Communications at an average price of Rs 428.05 per share, and over 14.67 lakh shares of Shriram Finance at an average price of Rs 2,684.30 per share. This brought the total value of the transactions to Rs 419.09 crore.
At the same time, BNP Paribas, a Paris-based financial services firm, bought shares of One97 Communication and Shriram Finance at the same price. Following the transactions, the share price of Shriram Finance rose by 1.75 per cent to close at Rs 2,731.25 per share, while the share price of One97 Communications dropped by 1.04 per cent to settle at Rs 423.60 per share on the NSE.
