Platinum sells Madras Cements stake worth Rs 17 cr

Fund house has sold 1.124 million shares of Madras Cements on the NSE

Madras Cements today said fund house Platinum Investment Management has sold 1.124 million shares, or 0.47%, stake in the company in open market for a little over Rs 17.24 crore.

In a regulatory filing to the Bombay Stock Exchange (BSE), Madras Cements said Platinum Investment sold 1.124 million shares on the National Stock Exchange on March 26, 2012.

Before the transaction, Platinum Investment had 8.585 million shares, or 3.61%, stake in the company. Following this, its holding in the company has come down to 3.14% stake.

As on December-end, Platinum Investment had 5.75% stake in the company, while promoters were holding 42.01% stake.

 

Madras Cement's shares today closed at Rs 149.65 on the BSE, down 1.51% over the previous closing.