SBI Mutual Fund, Aditya Birla Sun Life buy Alkem Lab's shares worth ₹538 crore

New Delhi: SBI Mutual Fund and Aditya Birla Sun Life Mutual Fund on Thursday bought shares of drug firm Alkem Laboratories Ltd worth around ₹538 crore through open market transactions.

According to data available with the National Stock Exchange (NSE), SBI Mutual Fund bought 24 lakh shares and Aditya Birla Sun Life MF purchased 7.5 lakh shares of the pharmaceutical company for ₹1,708.45 a piece.

While SBI MF bought the shares for ₹410.02 crore, Aditya Birla acquired scrips for ₹128.13 crore.

In a separate transaction, Prasid Uno Family Trust sold 36 lakh shares of Alkem for ₹1,708.45 per scrip.

According to the shareholding pattern available on the NSE, Prasid Uno held over 41 lakh shares or 3.43% stake in Alkem at the end of the June 2019 quarter.

Shares of Alkem Laboratories ended at ₹1,742 on the NSE, down 0.19 per cent from the previous close.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.