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Vadilal Industries shares plunge over 10% as Ashish Kacholia cuts stake

Stock of India’s second-largest ice cream player settled 20 per cent down

ETMarkets.com|
Updated: Aug 21, 2018, 10.33 AM IST
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The scrip was trading 11.49 per cent down at Rs 521 at around 9.35 am while the Sensex slipped 23 points, or 0.06 per cent, to 38,254.
Vadilal Ind loses 11per cent as Ashish Kacholia sells stake

Vadilal Industries plunged more than 11 per cent on early Tuesday as well-known investor Ashish Ramchandra Kacholia offloaded 5 per cent stake in the company.

Kacholia sold 3,06,045 shares of Vadilal Industries at an average price of Rs 612.18 on the NSE. He also offloaded 56,260 shares at Rs 604.05 on the BSE, bulk deal data showed.

The scrip was trading 11.49 per cent down at Rs 521 at around 9.35 am while the Sensex slipped 23 points, or 0.06 per cent, to 38,254.

On the other hand, EQ India Fund, led by Kochi-based stock picker Porinju Veliyath, purcahsed 48,000 shares of the firm at Rs 590.24 each, NSE data showed.

Stock of India’s second-largest ice cream player settled 20 per cent down at Rs 588.65 on Monday.

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