DP Wires Stock Jumps Over 4% After Big B Trims His Stake and Quietly Buys Fresh Shares

Amitabh Bachchan sold close to 1% of his holding in DP Wires Limited for about ₹2.48 crore, but at the same time picked up fresh shares in the same company, sending the stock sharply higher.

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.

What this means for you
• For investors: A celebrity's trade can push a stock up, but base your decision on the company's business and fundamentals, not just a famous name.
• For DP Wires shareholders: The stock rose 4.56% to ₹213.03 after the deal, lifting the value of existing holdings.

Questions & Answers

1. How many DP Wires shares did Amitabh Bachchan sell?
He sold 1,23,622 shares of the company, which is 0.79% of the total holding.

2. What was the total value of the deal?
The deal went through at an average of ₹200.84 per share, taking the total value to about ₹2.48 crore.

3. Did he also buy shares?
Yes, he bought 41,566 shares at ₹199.90 per share, investing around ₹83.09 lakh.

4. How did the stock react to the news?
As soon as the bulk deal news broke, DP Wires shares climbed 4.56% on the NSE to ₹213.03 per share.

5. How big was his stake earlier?
At the end of the March quarter he held about 3.27 lakh shares, or a 2.11% stake in the company.

https://trendkia.com/en/business/mahanayaka-ki-dila-ke-bada-dp-wires-ke-sheyaron-men-4-se-jyada-ki-uchhala-bechane-ke-satha-kharidari-bhi-2973
TrendKia — Har trend, sabse pehle.