Bulk Deals | Abakkus picks 1.2% stake in PSP Projects, promoter offloads 1% shares in Royal Orchid Hotels

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Promoter Patel Shilpaben P sold 15.5 lakh shares or 4.3 percent shareholding in PSP Projects at Rs 423.07 per share.

Ace investor Sunil Singhania-owned Abakkus Emerging Opportunities Fund-1 acquired 1.23 percent equity stake in construction company PSP Projects via open market transaction on September 27.

Abakkus bought 4.45 lakh shares in the company (1.23 percent of total paid-up equity) on the NSE, the bulk deals data showed. The stake was purchased by fund house at a price of Rs 425.68 per share.

However, promoter Patel Shilpaben P sold 15.5 lakh shares or 4.3 percent shareholding in the company at Rs 423.07 per share. Portfolio management company Bellwether Capital sold 3,34,855 equity shares in the company at Rs 490.53 per share.

PSP Projects shares shot up 12.22 percent to close at Rs 501.35.

Among other deals, promoter Keshav Baljee sold 2,71,591 equity shares in Royal Orchid Hotels (0.99 percent stake) at Rs 103.25 per share on the NSE. But the stock rallied 5.33 percent to Rs 105.75.

Promoter GMR Enterprises sold 5.75 crore equity shares in GMR Infrastructure, to its subsidiary Hyderabad Jabilli Properties at Rs 36.3 per share through open market transaction on the NSE. The stock gained 0.55 percent at Rs 36.50.

IndusInd Bank sold 43,69,267 equity shares in tea company McLeod Russel India at Rs 30.99 per share. However, Jaikarni Holdings acquired 20 lakh shares in the company at Rs 30.96 per share and Supremus Projects LLP bought 7.5 lakh shares at Rs 31 per share on the NSE. The stock was down 1.3 percent at Rs 30.45.

Moneycontrol News