MTAR Technologies climbs after Plutus Wealth Management buys shares of company for Rs 247 crore
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MTAR Technologies is currently trading at Rs. 1931.50, up by 34.60 points or 1.82% from its previous closing of Rs. 1896.90 on the BSE.
The scrip opened at Rs. 1934.90 and has touched a high and low of Rs. 1965.00 and Rs. 1914.40 respectively. So far 50920 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2015.00 on 18-May-2023 and a 52 week low of Rs. 1211.85 on 04-Jul-2022.
Last one week high and low of the scrip stood at Rs. 1989.90 and Rs. 1862.00 respectively. The current market cap of the company is Rs. 5936.60 crore.
The promoters holding in the company stood at 46.63%, while Institutions and Non-Institutions held 30.08% and 23.29% respectively.
Plutus Wealth Management has acquired shares of MTAR Technologies for Rs 247 crore through an open market transaction. According to the bulk deal data available with the BSE, Plutus bought 13,15,000 shares of MTAR Technologies. The shares were purchased at an average price of Rs 1,880.02 apiece, taking the transaction value to Rs 247.22 crore.
Meanwhile, promoters of MTAR Technologies -- Usha Reddy Chigarapalli, Anitha Reddy Dwaram and Kavitha Reddy Gangapatnam -- offloaded 11.20 lakh shares, amounting to 3.6 per cent stake in the firm. The shares were sold in the range of Rs 1,880-1,880.15 per piece.
MTAR Technologies is a leading precision engineering solutions company engaged in the manufacture of mission critical precision components with close tolerances (5-10 microns).
