Stock Jumps 4.56% as Amitabh Bachchan Trims Stake in DP Wires; Transaction Details Revealed
Bollywood megastar Amitabh Bachchan has engaged in a significant open market transaction regarding his stake in steel wires manufacturer DP Wires Ltd. He sold a portion of his existing holdings while simultaneously purchasing additional shares, triggering a sharp rise in the stock price on the National Stock Exchange (NSE).Amitabh Bachchan’s Stake Reduction and Sale Details
Amitabh Harivansh Rai Bachchan offloaded 1,23,622 equity shares representing a 0.79 per cent stake in the Madhya Pradesh-based company. This bulk deal transaction was executed on Tuesday through the open market.The sale amounted to ₹2.48 crore, as the shares were sold at an average price of Rs 200.84 apiece. Following this transaction, Bachchan’s reported holding at the end of the March quarter stood at 2.11 per cent or 3.27 lakh shares in DP Wires.
Purchase Transaction and Investor Activity
Beyond trimming his stake, the veteran actor also increased his investment in the company. According to NSE data, he purchased 41,566 shares of DP Wires stock.This subsequent purchase was conducted at an average price of Rs 199.90 per piece, totaling ₹83.09 lakh. The identity of other buyers who participated in the open market transaction could not be ascertained by the exchange.
Market Reaction and Stock Performance
The news of Bachchan’s transactions, coupled with overall market sentiment, drove significant movement in DP Wires shares. Shares of the company rose 4.56 per cent on the NSE.Closing at Rs 213.03 apiece, the stock saw a positive surge following the recorded open market activity by the celebrated actor. The transaction provides insight into the corporate structuring activities of high-profile investors in specialty manufacturers.
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