NRB Bearings drops as venture fund offloads shares in secondary market

NRB Bearings shed 1.76% to Rs 120 at 11:13 IST on BSE after venture fund Catamaran Capital sold a total of about 13.50 lakh shares in bulk deals on BSE and NSE at Rs 127.50 per share on Tuesday, 16 September 2014.

Meanwhile, the S&P BSE Sensex was up 142.70 points or 0.54% at 26,635.21.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 1.36 lakh shares in the past two weeks.

The stock hit a high of Rs 125.20 and a low of Rs 118 so far during the day. The stock had hit a record high of Rs 132.05 on Tuesday, 16 September 2014. The stock had hit a low of Rs 31.10 on 30 September 2013.

Venture fund Catamaran Capital sold 5.09 lakh shares of NRB Bearings at Rs 127.50 per share in a bulk deal on BSE on Tuesday, 16 September 2014. On the same day, Catamaran Capital sold another 8.41 lakh shares at Rs 127.50 per share in a bulk deal on NSE.

NRB Bearings' net profit jumped 89.6% to Rs 13.12 crore on 18% growth in net sales to Rs 152.67 crore in Q1 June 2014 over Q1 June 2013.

NRB Bearings is an anti friction bearing solution provider, offering end-to-end bearing solutions to its customers across the globe.

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