The Hindu Business Line : T Rowe Price sells shares worth Rs 445 cr in multiple deals

FOREIGN institutional investor (FII) T. Rowe Price International on Friday sold shares of Zee Telefilms, Tata Tea, LIC Housing Finance and Welspun India for a total consideration of Rs 445 crore on the BSE in several bulk deals.

Most of these shares were bought either by FIIs or domestic mutual funds.

The FII firm sold 1.71 crore shares (4.17 per cent of the total equity) of Zee Telefilms at a price of Rs 160.96 a share.

T Rowe Price held 2.53 crore shares (6.15 per cent) of Zee at the end of March quarter.

It also sold 14.19 lakh shares of Tata Tea at Rs 545 per share, 34.7 lakh shares of LIC Housing Finance at Rs 248 and four lakh shares of Welspun India at Rs 117.14 a share.

CLSA Merchant Bankers bought 1.93 crore shares of Zee at Rs 160.96 a share and 34.67 lakh shares of LIC Housing Finance at Rs 248 a share.

Templeton Mutual Fund bought 6.2 lakh shares of Tata Tea at Rs 545 a share while Emerging Market Management bought 3.78 lakh shares of Welspun India at Rs 117 a share.

According to brokers, this is the single largest sale by an FII in separate companies in a single day.

In the past, there have been large sales by FIIs but it has been in a single company.

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