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    ICICI Prudential Life offloads stake in this consumer discretionary stock

    Synopsis

    As of the quarter ended June, it held 3.2% stake in Amber Enterprises

    ICICI Prudential Life Insurance CompanyAgencies
    ICICI Prudential Life Insurance has sold 1.83 lakh shares or 0.54% stake in Amber Enterprises
    ICICI Prudential Life Insurance has sold 1.83 lakh shares or 0.54% stake in Amber Enterprises at an average traded price of Rs 2,284.54, showed bulk deal data on the NSE. This was at a slight premium of the previous day’s closing price of Rs 2,277.10 per share on the NSE.

    As of the quarter ended June, it held 3.2% stake in the contract manufacturer.

    Shares of Amber Enterprises today ended over 3% higher at Rs 2,349.55 apiece on the NSE. The stock is a multi-bagger with a 3-year return of 153%. Nonetheless, in the last one year it has eroded investors’ wealth with a negative return of around 36%.

    Amber Enterprises commanding a market-cap of Rs 7,916 crore is a small-cap scrip. The company’s product range includes air conditioners, microwave ovens, refrigerators, washing machines, heat exchangers, multi-flow condensers, luminaries, vacuum forming components etc.





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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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