Global investors acquire stake in Sula Vineyards

The Markets Today in a nutshell

• Domestic benchmark indices ended on a negative note.
• Mid and small-cap shares witnessed frenzied selling. A surge in COVID-19 infections in China and Japan dampened investors risk appetite. Bears seem to have taken a complete control over Dalal Street with the changing mood of market participants leading to an erosion of more than Rs 16 lakh crore of investors’ wealth in the last seven sessions in a row.

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News you could use

? Ajanta Pharma ended in green in an otherwise tepid market
Promoter entities have offloaded Rs 637.2 crore shares or 4.28% stake of Ajanta Pharma via open market transactions, with Aayush Agrawal Trust selling 38.53 lakh shares and Ravi Agrawal Trust offloading 16.38 lakh shares at an average price of Rs 1,160.1 a share. Promoters informed exchanges on December 22 that they sold a total of 4.38% stake in the company and proposed to utilise these funds for financing their respective private businesses, including repayment of loans taken against the pledge of shares of the company.

? Global investors acquire stake in Sula Vineyards
Jupiter India Fund bought 6.32 lakh shares in Sula Vineyards at an average price of Rs 361 a share and Goldman Sachs Funds Goldman Sachs India Equity Portfolio acquired additional 6.95 lakh shares at an average price of Rs 351.48 a share. Goldman Sachs already held 12 lakh shares, or 1.43%, stake in the wine-maker.

? Kansai Nerolac Paints invests in Sri Lankan subsidiary
Kansai Nerolac Paints invested Rs 10.99 crore in its subsidiary in Sri Lanka, Kansai Paints Lanka, wherein it holds a 60% stake. The Sri Lankan subsidiary allotted 8.1 crore ordinary shares at LKR 6 per share to Kansai Nerolac.

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