Shares of Safari Industries were trading in the green during the trading session on 6 September after SBI Life Insurance bought Rs 77.38 crore worth of stake in the company.

SBI Life Insurance bought 2.05 lakh shares of Safari Industries through an open market transaction for an average price of Rs 3,775 per share, amounting to Rs 77.38 crore.

However, Investcorp Private Equity Fund II sold 2.14 lakh shares of the company for an average price of Rs 3,775.06 per share.

As per June 2023 data, Invest held 2.88 lakh shares or 1.22% equity in Safari Industries.

The company reported a strong quarterly report for the April-June quarter with an 88% YoY increase in its net profit at Rs 49.94 crore. The company’s operating revenue saw a 46% YoY increase at Rs 426.68 crore for the Q1 of the current fiscal year.

At 1:15 pm, the shares of Safari Industries were trading at Rs 3,160.25 or 0.68% above its previous close on NSE.