Capital Group, on Monday sold 4.29 per cent stake in Mangalam Cement for INR122.88m. It sold 937,845 shares of the company via its account Small Cap World Fund and American Funds Insurance Series at INR131.02 a share at the National Stock Exchange (NSE).
On the other hand, Birla Sun Life Insurance Company bought 2.29 per cent stake in Mangalam Cement for an aggregate of INR65.5m. The insurance company sold 500,000 shares at a price of INR131 a share on the NSE.
Shares of the company gained INR11.35, or 8.99 per cent, to settle at INR137.65. The total volume of shares traded was 195,265 at the BSE (Monday).