The shares were sold by FID Fund Mauritius. The block deal saw the company's share price going up by 14 per cent to close at Rs 52.60.

The company operates in the space of engineering and PLM services. Since January 2007 the company has been under a restructuring mode. The first step was the appointment of Ravi Gopinath as the CEO and managing director.

Analysts tracking the company said Geometric has not been able to remain consistent in its performance. For the last few quarters, the company has reported a dip in its net profits.

"Geometric has been a high-risk stock. While the company is in a niche space it has been inconsistent in performance. Restructuring is one of the reasons. However, this has also impacted the company's valuations which are in single digits," says a research analyst tracking the company,

"Their problem started when one of the acquisitions they did in 2006 did not auger well and saw the company's performance going down," said another analyst.

On a year-on-year basis the company's net profit was down 55 per cent and sequentially it dipped by 30 per cent.