Sundram Fasteners’ shares worth ₹434 Crore change hands

13 Aug 2024 , 12:53 PM

Sundram Fasteners Ltd. shares rose as high as 3% on Tuesday (August 13), after 33 lakh shares, or 1.57% of the company’s outstanding equity, changed hands during a pre-market block session.

The overall transaction value is estimated to be ₹434 Crore.

Shares traded at an average price of ₹1,318 per share, representing an up to 11% decrease from Monday’s closing price.

Official buyers and sellers in the deal are yet to be determined. As of the June quarter shareholding pattern, the promoter owned 48.51% of Sundram Fasteners.

Domestic mutual funds also own a 14.96% interest in the company.

The Company’s primary business is the manufacture and sale of bolts and nuts, water pumps, sintered goods, cold extruded components, hot and warm forged parts, radiator caps, and other parts used principally in the automotive sector.

At around 10.30 AM, Sundram Fasteners was trading 1.61% higher at ₹1,352.40 per piece, against the previous close of ₹1,331 on NSE. The counter touched an intraday high and low of ₹1,369.90, and ₹1,347.30, respectively.

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