India's Restaurant Brands trims gains, closes higher as top shareholder cuts stake

Restaurant Brands Asia

15/09/2023 11:25

(Adds details on promoter selling stake via block deal in
paragraphs 2 and 3)
    ** Shares of Restaurant Brands Asia  RESR.NS  trims gains to
close 6.7% higher after rising as much as 14.46% during the day
    ** Stock posts third straight session of gains and a weekly
rise of 5.2% 
    ** RESR says top shareholder QSR Asia Pte has cut stake in
co to 15.44% from 40.80% via block deals but does not disclose
to whom the shares were sold
        ** Stock scaled over a 1-year high earlier in the day on
two block deals after more than 1.2 mln change hands, at a price
range between 133 rupees and 134.05 rupees apiece, according to
LSEG data
  
        ** Stock most active since Dec. 21, 2020 with more than
57.9 mln shares traded, 31.9x 30-day moving avg
  
    ** Including day's gains, stock up more than 14.8% YTD

 (Reporting by Rama Venkat and Ashish Chandra in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))