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Triveni Engineering trade with traction on the bourses
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Triveni Engineering & Industries is currently trading at Rs. 284.55, up by 8.10 points or 2.93% from its previous closing of Rs. 276.45 on the BSE.
The scrip opened at Rs. 272.95 and has touched a high and low of Rs. 286.50 and Rs. 272.45 respectively. So far 159444 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 374.00 on 19-Apr-2022 and a 52 week low of Rs. 181.25 on 25-Oct-2021.
Last one week high and low of the scrip stood at Rs. 286.50 and Rs. 262.35 respectively. The current market cap of the company is Rs. 6900.90 crore.
The promoters holding in the company stood at 68.43%, while Institutions and Non-Institutions held 10.47% and 21.10% respectively.
Triveni Engineering & Industries has divested its entire 21.85% stake in Triveni Turbine (TTL) worth Rs 1,609 crore, unlocking significant value for shareholders. Driven by strong investor demand, the sale of shares was to marquee investors including sovereign wealth funds such as GIC, Abu Dhabi Investment Authority (ADIA), foreign institutions such as Nomura, Plutus and leading mutual funds such as SBI MF, Aditya Birla MF, Sundaram MF, Invesco MF. With the sale of the aforesaid equity shares, the Company will cease to be a shareholder in TTL.
Around 10% of the total paid-up capital of TTL was sold to Rati Sawhney, one of the existing promoters by way of inter-se transfer between promoters at a price of 229 per share (based on the previous day closing price of 228.95 per share on NSE) through block trading window on stock exchange and around 11.85% of the total paid-up capital of TTL was sold to multiple leading institutional investors through block trading window on the screen-based trading system of the stock exchanges at a price of 226.70 per share.
Triveni Engineering & Industries is a focused, growing corporation having core competencies in the areas of sugar and engineering. The Company is one amongst the largest sugar manufacturers in India and the market leader in its engineering businesses comprising high speed gears, gearboxes, and water treatment solutions.
