Anil Ambani buys Shoppers Stop's shares

Anil Ambani Group firms have bought 17.40 lakh shares in Shoppers Stop for over Rs 51 crore. Brought through open market transactions, Reliance Capital Asset Management and Reliance Capital Trustee Company were the buyers.  

Reliance Capital Asset Management purchased 10 lakh shares, while Reliance Capital Trustee Company bought 7,40,500 shares. The shares were purchased at Rs 295 a piece, valuing the deal to Rs 51.34 crore. 

Smallcap World Fund, a shareholder of Shoppers Stop, sold 19,85,925 equities of the company for Rs 295 a piece, translating into a deal worth Rs 58.6 crore. Shares of Shoppers Stop surged by 7.25 percent to close at Rs 318.85 a piece on the BSE.