India's HDIL shares drop after vice chairman sells stake
MUMBAI Jan 23 (Reuters) - Shares in India's Housing Development & Infrastructure Ltd (HDIL) 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 ($10.59 million) in secondary markets, reducing his stake to 0.99 percent from 2.19 percent.
HDIL shares were down 14.8 percent as of 0858 GMT. ($1 = 53.8150 Indian rupees) (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
- UPDATE 6-Obama warns on Crimea, orders sanctions over Russian moves in Ukraine
- CEO in apparent suicide was bitcoin fan, had other issues, too
- RPT-With Crimean appeal, Putin goes head-to-head with West over Ukraine
- Man called Bitcoin's father denies ties, leads LA car chase
- Privacy groups ask regulators to halt Facebook's $19 billion WhatsApp deal
The Nifty rose to a record high, and the benchmark BSE Sensex hit its record for a second consecutive session, as foreign investors bet big in a country that just months ago was gripped by market turmoil. Full Article