Marshall Wace Sells Shares: PFC, Eicher Motors & More

New Delhi, Sep 12 (PTI) British hedge fund Marshall Wace on Friday sold shares in Eicher Motors, Max Financial Services, state-owned entities, Power Finance Corp and Bank of Baroda to Societe Generale for around Rs 303 crore through open market transactions.

Marshall Wace, through its affiliate Marshall Wace Investment Strategies - Eureka Fund, offloaded 60,405 shares of Eicher Motors, 74,675 shares of Max Financial Services and 24.37 lakh shares of Power Finance Corporation.

London-based Marshall Wace also offloaded 64.16 lakh shares in Bank of Baroda, as per the block deal data on the National Stock Exchange (NSE).

The combined value of the transaction was around Rs 303.07 crore, and was executed in the price range of Rs 238.27-6,758 apiece.

Meanwhile, these shares were acquired by Paris-headquartered Societe Generale at the same price.

Shares of Eicher Motors rose 1.73 per cent to close at Rs 6,875 apiece. The scrip of Max Financial Services fell 1.16 per cent to settle at Rs 1,586.70, and the scrip of Bank of Baroda slipped 0.41 per cent to end at Rs 237.30 apiece on the NSE.

Power Finance Corporation's shares slipped 0.89 per cent to finish at Rs 396.