BNP Paribas Buys Hero MotoCorp Shares for Rs 1,035 Cr

New Delhi, Sep 29 (PTI) Financial services company BNP Paribas on Monday bought nearly 1 per cent stake in two-wheeler maker Hero MotoCorp for Rs 1,035 crore through an open market transaction.

Paris-based BNP Paribas, through its affiliate BNP Paribas Financial Markets, purchased 19.52 lakh equity shares, representing a 0.97 per cent stake, in the city-based Hero MotoCorp, as per the bulk deal data available on the National Stock Exchange (NSE).

The transaction was valued at around Rs 1,035.16 crore, and was executed at an average price of Rs 5,302.91 apiece.

Details of the sellers of Hero MotoCorp's shares could not be ascertained on the exchange.

Hero MotoCorp shares rose 0.33 per cent to close at Rs 5,345.50 apiece on the NSE.

In a separate bulk deal on the NSE, BNP Paribas via its arm picked up more than 1.06 crore shares, or 1.36 per cent stake, in private sector lender IndusInd Bank for Rs 772 crore through an open market transaction.

The shares were purchased at an average price of Rs 723.60 apiece, taking the deal value to Rs 771.71 crore.

However, BNP Paribas sold 7,969 shares of the bank at an average price of Rs 728.15 apiece, for Rs 58.02 crore.

Shares of IndusInd Bank climbed 3.07 per cent to settle at Rs 734.60 apiece on the NSE.