Japan's Sojitz sells 1.9% stake in Motherson

Japan-based Sojitz Corp has sold 128 million shares, constituting a 1.9% stake in the auto component major Samvardhana Motherson through a block deal on Tuesday, reports Our Bureau. Shares were sold at ₹64.53 per share to raise ₹826 crore. Motherson's stock plunged 7.73% to close at ₹63.85. The floor price for the block deal was fixed at ₹64.36 per share, a discount of 7% from Monday's closing price.