Swiss Finance Corp buys 55.3 lakh shares in Apollo Tyres

MUMBAI: Foreign investor Swiss Finance Corporation (Mauritius) today picked up a total of 55.30 lakh shares of Apollo Tyres for nearly Rs 36 crore through open market transactions.

As per the bulk deal details with the stock exchanges, Swiss Finance Corporation purchased about 25.57 lakh shares of Apollo Tyres on the BSE and another 29.73 lakh shares of the company on the National Stock Exchange (NSE).

Apollo Tyres shares were acquired for an average price of Rs 64.88 apiece, valuing the transaction at Rs 35.89 crore.

In a separate block deal on the BSE, Nainesh Trading & Consultancy, a shareholder of Mahindra Forgings, offloaded 5 lakh shares of the company for Rs 3.22 crore.

The shares were purchased by one Yogiraj Makar at an average price of Rs 64.5 apiece, the data showed.

As on quarter-ended June, Nainesh Trading & Consultancy held 24 lakh shares of Mahindra Forgings amounting to 2.61 per cent stake in the company.

On the BSE, Apollo Tyres shares gained 4.25 per cent to settle at Rs 64.95 apiece, while Mahindra Forgings scrip rose marginally by 0.54 per cent to end the day at Rs 64.65 apiece