HDFC AMC deal tops list as 110 companies sell stakes worth Rs 16,000 crore in April-June

Promoters are on a selling spree, as in the last three months (April–June), a total of 110 companies have sold their stakes worth Rs 16,000 crore. In the three-month selling period to June 30, HDFC AMC promoter Abrdn emerged as the biggest seller as it sold its 10.2 per cent stake for Rs 4,079 crore in a deal in June.

The share price of HDFC AMC rose 34.40 per cent in the three-month period to June 30.  

In May, Abrdn had also sold its stake for Rs 2,042 crore in HDFC Life.

The share price of HDFC Life also soared by 30.50 per cent in the April-June period.

Vedanta Fashion promoters, the Modi family, turned out to be the second-biggest seller during the three-month period as it sold 7 per cent of its stake for Rs 2,912 crore due to SEBI rules. 

Coforge's promoter, Hulst BV, also forged a big deal as it sold shares worth 887 crore (3.52 per cent) in May.

Conferege's shares moved up 24 per cent during the three-month period.  

Between June 1 and 29, MTAR tech promoters also sold its stake worth Rs 434 crore.

Its shares saw a jump of 21.20 per cent in the three-month period to June 30. 

TD Power has sold its stake worth Rs 835 crore. The company's share price has seen some significant movement in the April-June period as it soared 56 per cent.

The sale of stakes also fetched more than Rs 500 crore each to CIE Automotive and Clean Science.