McLeod Russel India drops as Carbon Resources sells shares

McLeod Russel India

16/06/2023 09:28

** Shares of tea manufacturer, McLeod Russel India  MCLE.NS 
down 2.5% at 21.70 rupees, set to snap a two-day winning run
    ** Recovers from near 8% fall to session-low of 20.50 rupees
    ** Carbon Resources, on Thurs, sold 1.65 mln MCLE shares at
22.2 rupees each, an 9.9% premium to stock's close on Wednesday
    ** Business Standard reports Carbon Resources sold its full
stake; Reuters couldn't verify that with stock market data
    ** Carbon Resources had held 5.3 mln MCLE shares, equal to a
5.03% stake
    ** Over 3.5 mln MCLE shares traded, nearly 6x the 30-day avg
but less than trading vol on Thurs
    ** Stock has rallied ~19% in the last two day, but is still
down ~27% YTD

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))