BofA Securities acquires 46.88 lakh shares of Tilaknagar Industries; stock under pressure

12 Oct 2022 , 01:39 PM

On Tuesday, BofA Securities Europe SA purchased 46,88,000 equity shares in Tilaknagar Industries at an average price of Rs99.98 per share, according to bulk deals data from the NSE.

The deal was completed at a little discount to the previous day’s closing price of Rs101.65 per share. As of the conclusion of the second quarter, the entity had no stock in the brewers and distilleries company.

Edelweiss Asset Reconstruction Company (EARC) on the other hand, sold 50 lakh shares at an average price of Rs100 per share. By the conclusion of the June quarter, EARC owned 10.1% of the company.

At around 1.36 PM, Tilaknagar Industries was trading marginally lower at Rs100.30, against the previous close of Rs100.35 on NSE. So far, the counter hit an intraday high and low of Rs104.80 and Rs98.10 respectively.

Tilaknagar Industries was founded in 1933 and has a market capitalization of Rs1,682 crore. The company’s primary business is the production of Indian Made Foreign Liquor (IMFL).

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