Fidelity Sells 1.94% Stake in Aditya Birla Lifestyle Brands For Nearly ₹261 Cr

Fidelity Investments on Tuesday sold a 1.94% stake in Aditya Birla Lifestyle Brands for nearly ₹261 crore through an open market transaction.

US-based Fidelity Investments, through its arm Fidelity Securities Fund, Fidelity Blue Chip Growth Fund, offloaded 2,36,97,487 shares, representing a 1.94% stake in Aditya Birla Lifestyle Brands Ltd (ABLBL), as per the bulk deal data on the BSE.

The shares were disposed of at an average price of ₹110 apiece, taking the deal value to ₹260.67 crore.

Details of the buyers of ABLBL's shares could not be ascertained on the exchange.

Shares of Aditya Birla Lifestyle Brands Ltd fell 2.07% to close at ₹113.35 apiece on the BSE. In a separate block deal on the NSE, global investment firm Goldman Sachs sold 35.43 lakh shares of Tata Motors' commercial vehicle business unit to Paris-based BNP Paribas for ₹152 crore through an open market transaction.

US-based Goldman Sachs, through its affiliate Goldman Sachs Bank Europe SE - ODI, disposed of the shares at an average price of 429.30 apiece, taking the deal value to R₹152.10 crore.

Meanwhile, BNP Paribas, through its arm BNP Paribas Financial Markets, bought the same number of shares at the same price.

Shares of Tata Motors' commercial vehicle business unit slipped 2.83% to close at ₹ 428.90 per piece on the NSE.