Vontobel Fund sells Shriram City Union shares for Rs 127cr

Written By Unknown on Kamis, 08 Mei 2014 | 23.25

Recently, Piramal Enterprises had proposed to acquire 9.99 percent stake in SCUF for about Rs 790 crore.

US-based Vontobel Fund Inc today offloaded more than 10 lakh shares of Shriram City Union Finance (SCUF) for a little over Rs 127 crore through an open market route. According to information available with the stock exchanges, Vontobel Fund sold 5.97 lakh shares and 4.10 lakh shares of the non-banking finance company on the NSE and BSE respectively.

The shares were offloaded on an average price of Rs 1,265 valuing the transaction at Rs 127.41 crore. The buyers of the shares could not be ascertained immediately. Vontobel Fund is run by Vontobel Asset Management Inc.

Yesterday, Norwest Venture Partners offloaded 2.78 percent stake in the SCUF for an estimated Rs 206.25 crore. Recently, Piramal Enterprises had proposed to acquire 9.99 percent stake in SCUF for about Rs 790 crore.

Shares of Shriram City Union Finance today rose by 1.94 percent to close at Rs 1,264.20 apiece on the BSE.


 

Shriram City stock price

On May 08, 2014, Shriram City Union Finance closed at Rs 1264.20, up Rs 24.00, or 1.94 percent. The 52-week high of the share was Rs 1295.00 and the 52-week low was Rs 850.05.


The company's trailing 12-month (TTM) EPS was at Rs 60.67 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 20.84. The latest book value of the company is Rs 260.74 per share. At current value, the price-to-book value of the company is 4.85.


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