Parekh brothers sell 6% stake in Jyoti CNC Automation for Rs.1,489-Cr

Individual investors Paresh Mohanlal Parekh and Vijay Mohanlal Parekh divested a total of 6.02 % stake (68.50 lakh shares each) in Gujarat-based Jyoti CNC Automation for INR 1,489 crore through open market transactions.The transaction was executed in the price range of INR 1,087.01-1,087.45 apiece, taking the deal value to around INR 1,489.50 crore. After the latest transaction, Parekh brothers' holding in Jyoti CNC Automation declined to 4.8 % from 10.82 %.