Motilal Oswal nearly exits this underperforming auto component player on Tuesday via block deals

Motilal Oswal has either exited, or nearly exited its stake auto components manufacturer and recently listed Carraro India Ltd. via block deals on Tuesday.

As per data available on the NSE, Motilal Oswal Mutual Fund sold 10 lakh shares of Carraro India at a price of ₹449 per share. Bajaj Allianz Life Insurance Company was the buyer of that stake sold.

At the end of the June quarter, Motilal Oswal Mutual Fund, through its Small Cap Fund, had a 1.85% stake in Carraro India or 10.52 lakh shares.

India's Mutual Funds have a 12.66% stake in Carraro India, where aside of Motilal Oswal, HSBC Smallcap Fund (2.79%), LIC Manufacturing Fund (2.15%), Edelweiss Smallcap Fund (1.68%), and Bank of India Smallcap Fund 1.44%) have stake. Tata AIA Life Insurance also as a 1.06% stake in the company at the end of the June quarter.

Shares of Carraro India made their stock market debut in December last year at an IPO price of ₹704. The stock listed at a discount and has since not seen those levels.

The stock ended Tuesday's trading session at ₹446.05, down 1.77%. As of Tuesday's closing, the stock is still down 37% from its IPO price.