Amanasa Holdings Sells Rs 104-Crore Stake in Rallis India

New Delhi: Amanasa Holdings on Tuesday sold a 3.1 per cent stake in Tata group firm Rallis India for about Rs 104 crore through open market transactions.

According to the bulk deals data available with the BSE, Amanasa Holdings sold 60,89,870 shares or 3.1 per cent of its stake in the agrochemical firm in two separate transactions.

While 42,92,850 shares were offloaded at a price of Rs 170.04 apiece, 17,97,020 shares were sold for Rs 171.79 per scrip. The total value of the transactions stood at Rs 103.86 crore.

As of September 30, 2015, Amanasa held a 4.11 per cent stake in Rallis India.

Meanwhile, ICICI Prudential MF bought 25,49,795 shares in the company for Rs 43.34 crore at a per share price of Rs 170. Rallis India reported a 15 per cent plunge in net profit at Rs 64.68 crore for the quarter ended September 30, hit by decline in sales.

Net sales during the period fell to Rs 462.23 crore from Rs 578.42 crore in the year-ago period.

Rallis India is a subsidiary of Tata Chemicals, with its business presence in the Farm Essentials vertical. Shares in Rallis India, on Tuesday, ended 2.47 per cent lower at Rs 175.35 apiece on BSE, whose benchmark Sensex index finished down 0.86 per cent.