Bollywood megastar Amitabh Bachchan stays in the headlines not just for his films but also for his investments and lavish lifestyle. Now one of his share deals has stirred the market. The actor has sold a large chunk of his stake in wire manufacturer DP Wires Limited, trimming his holding by roughly 1% through a big open-market transaction.
According to data from the National Stock Exchange (NSE), Bachchan sold 1,23,622 shares of the company, which works out to 0.79% of the total equity. The deal went through at an average price of ₹200.84 per share, taking the overall value of the transaction to about ₹2.48 crore.
How Much He Held Earlier
Looking at his earlier investment, Bachchan owned close to 3.27 lakh shares of DP Wires at the end of the March quarter, giving him a 2.11% stake in the company. That figure has now come down after the latest sale.
Selling With One Hand, Buying With the Other
The most interesting part is that even as he sold shares, Big B also bought fresh ones in the same company. He picked up 41,566 shares at ₹199.90 per share, investing around ₹83.09 lakh. Apart from Bachchan, a few other investors also bought shares in the company, but their names have not been disclosed yet.
Immediate Impact on the Stock
The buying and selling by such a big name had an instant effect on the market, lifting DP Wires shares. As soon as news of the bulk deal surfaced, the company's stock climbed 4.56% on the National Stock Exchange to ₹213.03 per share. Typically, whenever a major celebrity or marquee investor buys or sells a company's shares, smaller investors get restless and demand for that stock suddenly spikes, which is exactly what played out here.
