JSW Energy share price declined over 3% on Thursday after its promoter JSW investments sold nearly 1.3% stake in the company through open market transactions. JSW Energy shares dropped as much as 3.81% to ₹354.05 apiece on the BSE.
On August 16, JSW Investments Ltd had sold a 1.28% stake, or 2.1 crore equity shares in JSW Energy Ltd at a price of ₹341.7 per share aggregating to ₹718 crore through the open market.
As per the block deal data, GQG Partners Emerging Market Fund bought a 0.6% stake or 10,284,024 shares of JSW Energy at ₹341.70 apiece for ₹351 crore on Wednesday.
Read here: GQG Partners buys 0.6% stake of JSW Energy in open market for ₹351 crore
This is the second block deal by the Rajiv Jain-backed investment firm as it picked over 1.2 crore shares of JSW Energy at ₹345 apiece, aggregating ₹411 crore, on Monday.
As per JSW Energy Q1 results, the company reported a net profit of ₹290 crore, a decline of 48% YoY, while its revenue fell 3.23% to ₹2,928 crore.
JSW Energy share price has rallied 43% in the last three months. JSW Energy shares are up 23.6% YTD.
At 12:10 pm, JSW Energy share price was trading 3.36% lower at ₹355.75 apiece on the BSE.
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Updated: 17 Aug 2023, 12:13 PM IST