BofA Securities Offloads Shares Worth ₹859 Crore to Societe Generale

BofA Securities offloaded shares of five companies, including Grasim Industries and Manappuram Finance, for ₹859 crore through open market transactions. Societe Generale acquired these shares at the same rate. Despite this, shares of some companies rose while others fell on the BSE.

BofA Securities made a significant move on Tuesday by offloading shares of five prominent companies, including Grasim Industries and Manappuram Finance, amounting to ₹859 crore through open market transactions. The transactions involved BofA Securities Europe SA, a New York-based arm.

Shares were also sold in Dhani Services, Ramkrishna Forgings, and Tilaknagar Industries through various block deals on the BSE. Specifically, BofA Securities Europe SA sold 1 crore shares of Dhani Services, 14.12 lakh shares of Grasim Industries, and 38.48 lakh shares of Manappuram Finance. Additionally, 31.17 lakh shares of Ramkrishna Forgings and 35.30 lakh shares of Tilaknagar Industries were offloaded.

The shares were disposed of at prices ranging from ₹52.08 to ₹2,517 per share, totaling ₹859.68 crore. In a parallel move, Societe Generale, a financial services firm based in France, purchased these shares at identical prices. The market response was mixed: shares of Dhani Services rose 6.67% to ₹51.79, Ramakrishna Forgings increased by 2.59% to ₹919.10, and Grasim Industries added 0.06% to ₹2,516.55. Conversely, shares of Tilaknagar Industries dropped 2.18% to ₹253.40, and Manappuram Finance fell by 0.44% to ₹192.85 on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)