Isgec Heavy Engineering Bulk Deal: Nippon India Small Cap Fund Acquires 1.13% Stake
Goldman Sachs India Equity Portfolio sold 10.4 lakh shares or a 1.41% shareholding at Rs 915.49 apiece.
Nippon India Small Cap Fund bought approximately 8.33 lakh shares of Isgec Heavy Engineering Ltd. on Thursday for Rs 76.3 crore, according to the bulk deal data available on the National Stock Exchange.
The transaction at Rs 915 apiece translates to a 1.13% stake in the heavy engineering products manufacturer.
Goldman Sachs India Equity Portfolio sold 10.4 lakh shares or a 1.41% shareholding at Rs 915.49 apiece. There was no information on the other buyers of the shares.
Isgec Heavy Engineering's net profit declined 65% to Rs 23.1 crore in the third quarter of the current financial year from Rs 66.6 crore in the year-ago period. This was on account of loss from its ethanol plant in the Philippines that was commissioned on Nov. 16, according to the company's investor presentation.
Shares of Isgec Heavy Engineering closed 1.89% lower at Rs 933.05 apiece on the National Stock Exchange, compared to a 0.09% decline in the benchmark Nifty.
