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Timken India Ltd News

Timken India promoter pares 6.6% stake for Rs 1,956 cr through open market

Timken Singapore Pte, promoter of bearings-maker Timken India, on Tuesday offloaded a 6.6 per cent stake in the company for Rs 1,956 crore through open market transactions. Axis Mutual Fund (MF), Nippon India MF, UTI MF, HDFC Life Insurance, Morgan Stanley Asia Singapore, BofA Securities Europe SA, Singapore government and Monetary Authority of Singapore were among the buyers of Timken India's shares. Timken Singapore Pte offloaded a total of 50 lakh shares in 17 tranches through separate block deals on the BSE. As per the data, Timken Singapore sold 50 lakh shares, amounting to a 6.6 per cent stake in Bengaluru-based Timken India. The shares were disposed of at an average price of Rs 3,913.35 apiece, taking the deal value to Rs 1,956.67 crore. After the share sale, shareholding of Timken Singapore Pte has reduced to 51.06 per cent from 57.70 per cent in the company. On Tuesday, shares of Timken India rose 2.78 per cent to close at Rs 4,062.80 apiece on the BSE. In June last year

Timken India promoter pares 6.6% stake for Rs 1,956 cr through open market
Updated On : 28 May 2024 | 10:59 PM IST

Timken India surges 6% after 5 million shares change hands via block deals

Timken India block deal: Till 09.34 AM, around 5.02 million shares, representing 6.6 per cent of total equity of the company, had changed hands on the BSE

Timken India surges 6% after 5 million shares change hands via block deals
Updated On : 28 May 2024 | 10:07 AM IST