Morgan Stanley through its affiliate Morgan Stanley Asia Singapore Pte. 26 crore shares were bought while Bandhan MF also bought the same number of shares in the company.
Meanwhile, 3P India Equity Fund bought 11 lakh shares valued at Rs. 47.30 crores.
On Thursday Rs. 429.05 shares corresponding to closing Rs. 430 per share was made. Shares today at Rs. 11.40 or 2.66% to Rs. closed at 440.45.
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Before the block deal, Peterhouse Investments held a 1.52% stake in the company with 45,66,529 equity shares.
Usha Martin Wire Ropes Manufacturers, specializes in manufacturing high-performance wire ropes, LRPC strands, wires, pre-stressing accessories, machinery and optical fiber cables. The company has facilities in India, Thailand, UAE and the UK, supported by a global development center in Italy.
Shares of Usha Martin have returned 8% in the last 12 months which is marginally better than headline indices Nifty and BSE Sensex which have returned 5.7% and 4.6% respectively.
The stock is trading below its 50-day simple moving average (SMA) of Rs 450.2 while according to Trendlyne Rs. above the 200-day simple moving average (SMA) of 371.2.
The company in the quarter ended September Rs. 110 crore reported a consolidated net profit which was flat over the same quarter last fiscal. The total income during the quarter under income was Rs. 930 crore, which in the previous year period was Rs. 898 crore is 3.6% higher than Rs.
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