Shares of FSN E-Commerce Ventures Ltd ( ) and were trading 4 per cent higher each in Friday's trade on heavy turnovers amid likely block deals on the counters. Shares of Nykaa climbed 3.96 per cent to hit a high of Rs 218.
75 on BSE. Adani group's Ambuja Cements advanced 4.23 per cent to Rs 659.
70. A total of 6,79,56,000 Ambuja Cements shares changed hands in block deals on NSE, valuing Rs 4,250.65 crore.
Nykaa saw Rs 864.40 crore turnover on BSE. In the case of Nykaa, there were reports that Harindarpal Singh and associates, a pre-IPO investor, was looking to offload 1.
4 per cent stake in the company worth Rs 809 crore. Businessman Harindarpal Singh was an early investor in Indian billionaire Falguni Nayar’s fashion giant FSN E-Commerce Ventures, which owns the fashion and beauty platform Nykaa. He founded The Caravel Group, a global conglomerate primarily engaged in resources trading, maritime services, and asset management.
By the end of June 2024 quarter, Singh held a 6.4 per cent stake in Nykaa's parent as on June 30. In the case of Ambuja Cements, the Adani group was said to be looking to sell a 2.
84 per cent stake in the cement maker for Rs 4,200 crore. Holderind Investments, an Adani Group entity, was looking to sell 69.96 million shares at a floor price of Rs 600 per share, which was at 5.
19 per cent discount to Thursday’s closing price of Rs 632.90 apiece..