Promoter Mala Relan cuts stake in Sharda Motor

Promoter Mala Relan sold shares of Sharda Motor Industries worth 499 crore in a block deal on NSE Wednesday. Relan sold 25 lakh shares at 1,996 apiece. Relan held 8.76% stake as on March 31. Nippon India MF, Edelweiss MF, HSBC MF, ICICI Prudential MF and Axis Smallcap Fund were among the buyers. Shares of Sharda Motor rose 3.13% to 2,060. In last one month, the shares gained 31.53% against an up-move of 8.73% in BSE Smallcap Index.