Axis Mutual Fund, Morgan Stanley, Societe Generale pick stake in Jyoti CNC

Two individuals on Monday divested a 4.2 per cent stake in Jyoti CNC Automation for Rs 1,079 crore via open market transactions while Axis Mutual Fund, Morgan Stanley and Societe Generale picked up shares in the company. A total of 96.05 lakh shares or 4.2 per cent stake in Jyoti CNC Automation was pared by the two public shareholders, Paresh Mohanlal Parekh and Vijay Mohanlal Parekh.According to the bulk deal data available on the National Stock Exchange (NSE), Vijay Mohanlal Parekh offloaded 48.02 lakh shares of Jyoti CNC Automation while Paresh Mohanlal Parekh sold 45.41 lakh scrips of the company. In addition, Paresh Parekh also disposed of 2.60 lakh shares of Jyoti CNC through a block deal on the BSE. The shares were offloaded in the price range of Rs 1,123-1,125.15 apiece on the BSE and NSE, taking the combined value of the transaction to Rs 1,079.40 crore. At the June quarter ending, Vijay and Parekh owned a 7.52 per cent stake each in Jyoti CNC Automation, as per the shareholding data on the BSE.