Nippon India Asset Management and Theleme India Master Fund have purchased an additional 2.26 percent equity stake in Sudarshan Chemical Industries via open market transactions on April 16. Sudarshan Chemical shares increased by 7.74 percent to Rs 878.6 on the National Stock Exchange following the deal. Nippon India Mutual Fund acquired 13.82 lakh shares (1.76 percent stake) for Rs 111.95 crore, while Theleme India Master Fund bought 4 lakh shares (0.5 percent stake) for Rs 32.4 crore, both at Rs 810 per share. Earlier, promoters Rahul Pradeep Rathi, Pradeep Ramwilas Rathi, and Anuj Narayandas Rathi sold a combined 3 percent stake for Rs 191.09 crore. Meanwhile, Abu Dhabi Investment Authority exited M & B Engineering by selling 12.91 lakh shares (2.26 percent stake) at Rs 324.5 per share, totaling Rs 41.91 crore.
