Reliance Cap arm hikes stake in KEC Intl

Reliance Capital Trustee Company, a subsidiary of Anil Dhirubhai Ambani Group's Reliance Capital, today increased its stake in power infrastructure builder KEC International to 5.10% for over Rs 6.86 crore.

According to a data on the Bombay Stock Exchange, Reliance Capital Trustee Company purchased 8.80 lakh equity shares of KEC International in an open market transaction.

Reliance Capital Trustee Co has acquired these equity shares for various schemes of Reliance Mutual Fund, it said.

Total holding of Reliance Capital Trustee Co in KEC International stood increased to 1.31 crore equity shares, representing 5.10% of the total paid up capital of KEC International, having a significant presence in the segments of power transmission & distribution, design services, cable, telecom, Railway, water resource management and tower manufacturing.

Prior to this acquisition, Reliance Capital Trustee Co owned over 1.22 crore shares, representing 4.76% of the total paid equity of the flagship company of the RPG Group.

Though Reliance Capital Trustee Co carried out the transaction on May 27, it reported to the bourses today.

Reliance Capital's subsidiary bought KEC International's equity shares through Geojit BNP Paribas Financial Services from the National Stock Exchange, it said.

Shares of KEC International closed at Rs 82.35, down 0.67% from the previous close on the BSE.