BofA sells 18 lakh shares worth Rs 62 crore in this smallcap stock via block deal
Tilaknagar Industries for Rs 62 crore via a block deal while Societe Generale was the buyer.
BofA sold shares at a price of Rs 338.65 apiece which was marginally lower than the previous closing price of Rs 339.30 on the BSE.
Both Bank of America (BofA) and Societe Generale were existing shareholders in the company prior to today's deal. While BofA held 26,63,119 equity shares representing 1.38% stake in Tilaknagar through BofA Securities Europe SA — ODI as on September 30, 2024, Societe Generale's holding stood at 1.83%, which accounted for 35,30,800 shares in the same period.
Promoted by Dahanukar Family, the company is primarily involved in the manufacturing and sale of Indian Made Foreign Liquor (IMFL) and extra neutral alcohol. The Company has a diverse portfolio of brands in various liquor categories, including brandy, whisky, vodka, gin, and rum.
Tilaknagar Industries shares have rallied nearly 25% in the past one year which is better than the 1-year returns of Nifty in the same period at 19%. In 2024 so far, its returns stand at 43% which is significantly higher than Nifty's 8% returns on the year-to-date basis.
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