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Aditya Birla Sun Life MF sells 2% stake in PTC India

Capital Market 

Aditya Birla Sun Life Mutual Fund reduced its stake in the company to 5.45% on 12 November 2020 from 3.41% held earlier.

On Thursday, 12 November 2020, Aditya Birla Sun Life Mutual Fund sold 60.30 lakh equity shares (2.03% equity) of PTC India. The transaction has taken place in open market. The disclosure was made post trading hours yesterday, 17 November 2020.

PTC India's consolidated net profit fell 3.8% to Rs 193.64 crore on a 15.1% surge in net sales to Rs 5,904.07 crore in Q2 September 2020 over Q2 September 2019.

Shares of PTC India slipped 0.55% to Rs 54.05 on BSE.

PTC presently offers consulting services in the areas energy management solutions, distribution management solutions, transmission advisory, regulatory and open access advisory, etc. PTC India, a Government of India initiative, is the pioneer in starting a power market in India. The company has maintained its leadership position in power trading since inception. PTC has also been mandated by the Government of India to trade electricity with Bhutan, Nepal and Bangladesh.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 18 2020. 11:33 IST