India's Sanghi Industries falls on top shareholders' stake sale at discount

Sanghi Industries

26/06/2024 04:59

** Shares of Sanghi Industries  SNGI.NS  fall 4.3% at 97.85
rupees
    ** Top shareholders Ambuja Cements  ABUJ.NS  and Ravi Sanghi
propose to sell 3.5% stake in the cement maker at floor price of
90 rupees per share
    ** Floor price at 12% discount to SNGI's closing price on
Tuesday 
    ** Stock down 23% YTD after three consecutive annual gains

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))