Hindustan Oil Exploration Co. Managing Director Ramasamy Jeevanandam offloaded a 0.6% stake in the company for Rs 18.4 crore through an open market transaction on Monday. The shareholder sold 8 lakh shares at Rs 230.05 apiece.
Jeevanandam held a 3.77% stake in the company with 49.9 lakh shares as of June 2024.
BofA Securities Europe SA bought 7.14 lakh shares or a 0.54% stake worth Rs 16.4 crore at Rs 230 apiece, according to the block deal data on the NSE.
Earlier on Aug. 23, Jeevanandam told NDTV Profit that the company is looking for about a Rs 1,000 crore capital expenditure in the next three years and it plans to increase its Ebitda to Rs 1,500–2,000 crore by the financial year 2028.
Shares of HOEC closed 2.12% lower at Rs 231.25 apiece on the BSE, compared to a 1.49% decline in the benchmark Sensex. The share price has risen 33.90% in the last 12 months and 26.78% on a year-to-date basis.
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