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Central Depository Services (India) share price drops 4.5% after news of block deal, with CNBC-TV18 reporting BSE as the most likely seller for over 5% ownership.
BSE's stake reduction in CDSL: Exchanges allowed to hold only 15% in depositories; BSE held nearly 20% in CDSL at the end of March qtr
D-Link India was down nearly 4 percent to Rs 225. Ace investor Ashish Kacholia has sold further 3.69 lakh equity shares in the networking products manufacturer at an average price of Rs 227.91 per share.
BSE has sold a 4.54% stake in Central Depository Services (India) (CDSL) through a block deal worth INR468cr ($63m) to comply with market regulator Sebi norms which state a stock exchange is only allowed to hold a 15% stake in a depository. BSE previously held a 20% stake in CDSL. In the IPO for CDSL in 2017, BSE sold 26.05% of its previous 50.05% stake, and shares of CDSL have since gained 4% in the last three months, compared to BSE shares rise of nearly 29%.
Based on the OI percentage, 51 stocks were on the short-covering list. These included Petronet LNG, Deepak Nitrite, Coforge, Hindustan Petroleum Corporation and Can Fin Homes