Asian Paints shares in focus as RIL sells 3.6% stake to SBI MF, Brent crude up over 12%
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Shares of Asian Paints are likely to remain in focus on Friday after Reliance Industries Ltd (RIL) sold a 3.6% equity stake to SBI Mutual Fund via a block deal on Thursday. Additionally, the stock may also be in the spotlight as Brent Crude prices surge over 12% in today’s session. Here are the details: RIL equity stake sale to SBI MF SBI Mutual Fund, India's largest asset manager, has acquired a 3.6% stake in the company for a hefty Rs 7,704 crore ($900 million). This landmark transaction marks one of India’s largest bilateral block deals, further bolstering Asian Paints' standing in the market. The shares were purchased at Rs 2,201 per share, with Reliance reportedly monetising a portion of its investment in Asian Paints, having held the shares through Siddhant Commercials Ltd. The transaction reflects a near 23-fold return on Reliance’s 17-year-old investment, offering a significant windfall for the conglomerate. Live Events Br...