Mtar Technologies slips 4% after promoter buys stake via open market

Mtar Technologies shares slipped 3.7 per cent in Friday's trade on BSE, logging an intraday low at Rs 1,416.15 per share. The selling pressure in the stock came after promoter K Shalini, acquired 1,05,000 equity shares through the open market transaction.

 

Around 11:10 AM, Mtar Technologies share price was down 3.05 per cent at Rs 1,426.6 per share on BSE. In comparison, the BSE Sensex was down 0.72 per cent at 75,191.73. The market capitalisation of the company stood at Rs 4,388.16 crore. The 52-week high of the stock was at Rs 2,200 per share and the 52-week low was at Rs 1,207.05 per share.

 

"I, K Shalini, promoter of MT AR Technologies Limited have acquired from the open market an aggregate of 1,05,000 equity shares of MTAR," the filing read. 

 

As per the BSE shareholding pattern, K Shalini held a 0.99 per cent stake in the company as of December 2024. 

 

That apart, as per National Stock Exchange (NSE) bulk deal data, Graviton Research Capital LLP sold 198,816 shares for Rs 1,442.13 per share through a bulk deal. However, on the same day, the company bought 198,816 shares for Rs 1,441.41 per share. 

 

Mtar Technologies is a national player in the precision engineering industry engaged in the manufacture of mission-critical precision components with close tolerances (5-10 microns), and in critical assemblies, to serve projects of high national importance, through our precision machining, assembly, testing, quality control, and specialized fabrication competencies, some of which have been indigenously developed and manufactured. 

 

Since its inception in 1970, Mtar has grown into a major group with facilities with an unparalleled history of contributing to the Indian Civilian Nuclear Power program, Indian Space program, Indian Defence, Global Defence, as well as Global Clean Energy sectors.

 

The company has the machining, assembly, specialised fabrication, painting, and special processes facilities available under one roof, which are probably considered as one of the best facilities available in India, as well as in Asia.

 

In the past one year, Mtar Technologies shares have lost 22 per cent against Sensex's rise of 4 per cent.