Qualcomm Divests Stake in Shadowfax; Jubilant Pharmova Shares Rise
2 reports, 1 independent
Updated Oct 13
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What happened
Qualcomm Asia Pacific sold its remaining 57.13 lakh shares in Shadowfax Technologies through open-market transactions on October 12. This sale represented 0.98 percent of Shadowfax Technologies' paid-up equity for Rs 157.28 crore. Separately, Abakkus Asset Managers acquired 11 lakh shares of Jubilant Pharmova from Quant Mutual Fund, which also sold an additional 9.81 lakh shares of the pharmaceutical company.
From moneycontrol.com
Why it matters
The transactions involved significant capital movement in the markets. Jubilant Pharmova shares reacted positively to the trading activity, rising 2.04 percent to Rs 950.90 amid high trading volumes on the National Stock Exchange.
From moneycontrol.com
Who's involved
- QualcommParent company of Qualcomm Asia Pacific, which sold its stake in Shadowfax Technologies