Shriram Transport rises on Piramal Enterprises stake buy
Piramal Enterprises says it decided to acquire an approximately 10% equity stake in Shriram Transport through a block deal.
Shriram Transport Finance has moved higher by 4% to Rs 763 after Piramal Enterprises bought around 10% stake in the company through block deal on the Bombay Stock Exchange (BSE) today.
“The company has on May 10, 2013 decided to acquire an approximately 10% equity stake in Shriram Transport Finance Company through a block deal on the floor of the stock exchange,” Piramal Enterprises said in a NSE filing. However, name of the sellers was not disclosed by the company.
Around 22.85 million shares representing 10.07% of total equity of Shriram Transport Finance Company have changed hands at price of Rs 725 per share on BSE in early morning deals.
According to shareholding pattern as on March 2013, New Bridge India Investments II Ltd holds 22.84 million shares or 10.07% stake in the company, data showed.
The stock opened at Rs 740 and hit a high of Rs 772 so far on BSE. A combined around 23.93 million shares have changed hands on the counter till 0950 hours on BSE and NSE.
“The company has on May 10, 2013 decided to acquire an approximately 10% equity stake in Shriram Transport Finance Company through a block deal on the floor of the stock exchange,” Piramal Enterprises said in a NSE filing. However, name of the sellers was not disclosed by the company.
Around 22.85 million shares representing 10.07% of total equity of Shriram Transport Finance Company have changed hands at price of Rs 725 per share on BSE in early morning deals.
According to shareholding pattern as on March 2013, New Bridge India Investments II Ltd holds 22.84 million shares or 10.07% stake in the company, data showed.
The stock opened at Rs 740 and hit a high of Rs 772 so far on BSE. A combined around 23.93 million shares have changed hands on the counter till 0950 hours on BSE and NSE.