The Avenue Supermarts’ promoter through his investment vehicles Derive Trading and Bright Star already holds 30.7 per cent stake in VST Industries.
SBI Mutual Fund (MF) also acquired 225,000 shares of VST Industries, at an average price of Rs 3,390 per share, data shows.
Meanwhile, two mutual funds, HDFC Mutual Fund (200,000 shares) and DSP Mutual Fund (250,000 shares) collectively sold 450,000 shares or 2.9 per cent stake in VST Industries, data shows.
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Last month on December 20, 2023, VST Industries said that SBI Mutual Fund, under its various schemes had purchased 116,730 shares representing 0.76 per cent of the company. Post acquisition, SBI Mutual Fund’s stake in VST Industries increased to 5.7 per cent from 4.94 per cent, the company said. SBI Mutual Fund held 4.41 per cent stake in VST Industries at the end of September 2023 quarter, as per the shareholding pattern data.
VST Industries is engaged inter alia in manufacture and trading of Cigarettes, Tobacco and Tobacco products. The company is an associate of British American Tobacco Plc, which holds 32.2 per cent stake in VST Industries.
HDFC Mutual Fund (6.81 per cent) and DSP Small Cap Fund (2.4 per cent) are among other mutual funds that held more than 2 per cent stake in the VST Industries at the end of September quarter, data shows.
VST is an established player in the cigarette industry with over eight decades of operations. The company is the third-largest player in the domestic market with significant presence in West Bengal, Andhra Pradesh, Telangana, Bihar and Uttar Pradesh.
First Published: Jan 03 2024 | 10:43 AM IST