Power Ventures Holdings sells 2% stake in Easun Reyrolle

Moneycontrol Bureau

Shares of Easun Reyrolle fell more than 5 percent Friday after Power Ventures Holdings India Private Limited -- one of its non-promoter shareholders -- reduced its stake in the company by selling 4,20,415 equity shares or 2 percent of paid up equity capital.

Power Ventures Holdings India Private Limited sold 1,10,211 shares on the Bombay Stock Exchange and 3,10,204 shares on the National Stock Exchange at Rs 64.50 apiece, which in total was worth of more than Rs 2.7 crore.

Power Ventures' shareholding was 7.87 percent as of June 2013; hence after selling one-fourth of its total stake, the holding reduced to 5.87 percent.

The company is engaged in the business of electrical power management.

Meanwhile, the company had reported net loss of Rs 5.62 crore on revenues of Rs 42.20 crore for the quarter ended June 2013 as against loss of Rs 15.09 crore on revenues of Rs 13.71 crore in a year ago period.

The stock closed at Rs 64.25 on Friday, down 5.17 percent amid hefty volumes on the Bombay Stock Exchange.

(Posted by Sunil Shankar Matkar)