Divgi Torqtransfer Systems rose 4.3 percent in the early trade on October 19, recovering from the previous day’s losses after Motilal Oswal Mutual Fund offloaded its entire stake in the company for Rs 112 crore.
The mutual fund sold its 3.38 percent holding, or 10,34,225 shares, in two tranches, bulk deal data on the NSE showed. The shares were sold in the range of 1,080-1,080.29 apiece.
ICICI Prudential Mutual Fund purchased 6,23,646 shares in the company at around Rs 1,080 a share. The deal was valued at Rs 67.35 crore.
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Motilal Oswal sold the shares at a 3.8 percent discount to the October 17 closing price of Rs 1,122.75. After the sale, the stock fell 3.53 percent to settle at Rs 1,074.10 on the NSE.
Divgi Torqtransfer shareholding, price pattern
The stock made its market debut on March 14, 2023, listing at Rs 620. Since then, Divgi Torqtransfer has risen more than 72 percent. In the same period, the Nifty has gained 14.47 percent. The firm's market capitalisation is at Rs 3,405.7 crore.
Since the IPO, promoters have maintained their stake of 60.5 percent in the company. Foreign institutional investors and domestic institutional investors held 3.6 percent and 25.6 percent in the company, the September quarter shareholding data showed. The public held 10.3 percent.
At 11.39 am, the counter was trading at Rs 1,113 on the National Stock Exchange, up 3.3 percent from the previous day.
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