White Iris sells Apollo Tyres shares worth Rs 1,281 crore

Mumbai: White Iris Investment sold shares of Apollo Tyres in block deals worth 1,281.36 crore on BSE on Tuesday. The foreign portfolio investor sold 2.85 crore shares at 448.35 apiece.

As of Sept 30, White Iris Investment owned an 8.04% stake in the company. Nippon India Mutual Fund, ICICI Prudential Mutual Fund, Edelweiss Mutual Fund, Plutus Wealth Managements and Morgan Stanley Asia Singapore were among some of the buyers in the block deals.

Apollo Tyres’s share price rose 0.55% to close at 455.35 on Tuesday after the deal. Apollo Tyres shares have gained 7.08% in the past one month. The company reported a consolidated net profit of 474 crore for the quarter ended Sept 2023