HDIL shares drop after vice chairman sells stake
MUMBAI (Reuters) - Shares in Housing Development & Infrastructure Ltd (HDIL) (HDIL.NS) fell as much as 15.8 percent on Wednesday after Vice Chairman and Managing Director Sarang Wadhawan sold a partial stake in the company.
HDIL said on Tuesday Wadhawan sold 5 million shares worth 570 million rupees in secondary markets, reducing his stake to 0.99 percent from 2.19 percent.
HDIL shares were down around 15 percent at 2:35 p.m.
(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Prime Minister Narendra Modi will offer island nations in the Indian Ocean a broad range of military and civilian assistance next week in a bid to wrest back some of the influence China has gained by spending billions of dollars in the region. Full Article