John Cockerill bulk deal: Ramesh Damani buys Rs 13 crore stake as promoter pares holding by Rs 91 crore
The shares had been bought at a worth of Rs 4,704.45 apiece, which was a 1% low cost from the Wednesday closing worth of Rs 4755.40 on the BSE.
Chetan Jayantilal Shah was one other purchaser within the deal, buying 25,000 fairness shares at Rs 4,707 per share.
John Cockerill SA (previously Cockerill Upkeep and Ingenierie SA) is a Belgium-based industrial engineering group with international operations throughout vitality, defence, trade, surroundings, transport and infrastructure. It’s the dad or mum firm of the broader John Cockerill Group.
John Cockerill India Restricted is the Indian subsidiary of John Cockerill SA, and it engineers large-scale technological options for points just like the vitality transition, sustainable industrial manufacturing, and useful resource preservation. The corporate supplies superior tools and options in areas similar to vitality (together with inexperienced hydrogen), defence, steelmaking, environmental applied sciences, and basic trade.
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John Cockerill India shares in the present day ended with features of 6.3% or Rs 298.25 at Rs 5053.65.The inventory is at present buying and selling beneath its 50-day easy shifting common (SMA) of Rs 5,144.8 whereas above its 200-day SMA of Rs 4,155, in keeping with Trendlyne knowledge.
The inventory’s 1-year returns stand at 13.87%, outperforming the Nifty and BSE Sensex in the identical interval. The benchmark indices have delivered 10% and eight% returns, respectively, in the identical interval. Nonetheless, John Cockerill has seen a big rally previously six months, with shares surging 45%.
The worth motion got here amid excessive volatility, with a 1-year beta of 1.3, Trendlyne knowledge mentioned.
Learn extra: Akzo Nobel bulk deal: Goldman Sachs buys Rs 106 cr shares as promoter offloads Rs 1,296 cr stake
Its September quarter standalone internet revenue was Rs 9 crore, a 219% YoY development, whereas whole income jumped 29% YoY to Rs 99 crore.
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