In intraday trade on Thursday, shares of Sapphire Foods India, a Yum Brands franchisee in the Indian subcontinent, rose 3% to Rs 1,407.40 on the BSE after WWD Ruby sold almost 3 million equity shares of the restaurant company via the open market.
In a letter, WWD Ruby stated that by December 21, 2022, it intended to sell up to 31,77,127 equity shares, or 5% of Sapphire Foods' total equity, in one or more tranches. As of September 30, 2022, the foreign business owned 6.21 million shares, or 9.77% of Sapphire Foods, according to data on shareholding patterns. BSE data shows that at 09:15 and 09:37 a.m., about 181,835 and 131,332 shares were traded in block trades.
In contrast to the 0.44 % fall in the S&P BSE Sensex at 10:38 am, Sapphire Foods traded 3% higher at Rs 1,401.75. On the BSE, the stock dropped to an intraday low of Rs 1,347.05. On the BSE, around 7.2 million shares, or 11% of the company's total stock, had changed hands. On October 6, 2022, the stock reached a new all-time high of R 1573.
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