Shoppers Stop on shoppers list

There is a lot happening in Shoppers Stop today with huge block deals happening on the counter. Firstly, Amazon yesterday completely exited the company by selling its entire 4% stake through open market transaction. Selling at an average price of Rs.627.60/share, this stake sale fetched Amazon a cool Rs.276 crore.

These shares were allotted to Amazon in 2018 at a price of Rs.407.78 crore, for a total sum of Rs.179.25 crore.

The shares sold by Amazon was bought by asset and wealth management company, 360 One, through its four affiliates, Kotak Mahindra Mutual Fund (MF), Tata MF and Morgan Stanley.

Showing a turnover of 9.3 crore today, the stock opened 2.5% higher and soon rose to an intraday high at Rs.667.35, up 5%.