Market NewsDevyani International, which runs KFC, Pizza Hut, lost 7%, know why there...

Devyani International, which runs KFC, Pizza Hut, lost 7%, know why there was a sell-off

Dunearn Investments currently holds 16.26 per cent stake in Devyani International

Devyani International share prices: Devyani International ‘s shares slipped nearly 7 percent in today’s trade . According to a Bloomberg report, a big block deal has been done in Devyani International. However, there is no information about its buyer and seller.

According to Bloomberg’s report, about 2.64 crore shares of the company have been transferred, which is 2.33 percent of the company’s share capital.Earlier CNBC TV had reported that Dunearn Investments (Mauritius) Pte Ltd may sell around 3 per cent stake in the company at a price of Rs 182-196.25 per share.

The offer base was expected to be 26 million shares (2.19 per cent equity). With which an upside option of 87.76 lakh shares (0.73 per cent equity) was also expected. It was estimated that the sale could be for $8-86 million.

Dunearn Investments currently holds 16.26 per cent stake in Devyani International. Looking at the movement of the stock, this stock has seen a decline for 4 consecutive trading sessions and it has lost about 14 percent in this period. However, the stock has gained 18 per cent so far this year.

Looking at the movement of the stock today, around 10.17 pm, the share of Devyani International was seen around Rs 187.40, down by Rs 9.40, or 4.56 percent, on the NSE. The stock’s 52 week high is at Rs 215.00 while its 52 week low is at Rs 107.55. The current volume of the stock is 11,896,390 shares. The market cap of the company is Rs 22,618 crore.

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