KPIT Cummins' 1.16% equity changes hands via 3 block deals

Moneycontrol Bureau

More than 22.5 lakh equity shares (or 1.16 percent equity of total paid up capital) of KPIT Cummins changed hands on exchanges through three block deals at Rs 132.50 apiece.

Out of the three block deals worth nearly Rs 29 crore; two block deals of 15.5 lakh equity shares was placed on the National Stock Exchange and one was of 7 lakh shares on the Bombay Stock Exchange.

Promoter and promoter group hold 24.25 percent stake in the company as of June 2013 while Cummins and other fund houses have 46.22 percent shareholding in the company.

Meanwhile, the software firm had posted consolidated net profit of Rs 60.14 crore on revenues of Rs 613.21 crore for the quarter ended June 2013, which increased from Rs 53.55 crore on revenues of Rs 538.27 crore in a year ago period.

At 14:24 hours IST, the stock was down 1.06 percent to Rs 131.30 on the Bombay Stock Exchange.