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Anup Engineering share price rises 5% after promoter Aura Business Ventures buys 2.29% stake

BusinessToday.In     March 13, 2019

The share price of Anup Engineering rose in early trade today after its promoter group Aura Business Ventures bought additional shares of Anup Engineering.

The share opened 2.5 percent above the last close in both the exchanges and climbed up to 4.99 percent reaching the highest intra-day ever recorded for the stock of Rs. 636.20 in BSE and Rs. 635.25 on NSE.

The share is trading at a volume around 1.5 lakh shares, above its 5-day average(127233) in NSE and 53764 shares are traded in BSE below the 5-day average (79573).

The disclosure of the said acquisition of shares was amounting a total of 20,3694 shares with 2% voting rights, 1,99,002 shares being acquired on 8th March, another 3,460 shares on 11th March and 1,052 shares on the 12th March-2019.

Earlier (as of 28th February-2019) Aura Business Ventures LLP was holding 0.29 percent shareholding with 30,000 shares. After this acquisition by the promoter, the total amounts to 2,33,694 shares with 2.29 percent of shareholding in the company.

As per the disclosure submitted on 28th February-2019, the grand total of equity share capital for the company amounts to 1,01,93,962 shares, with 38.75 percent of promoter stakeholdings.

The Anup Engineering Ltd's share price has been on a continuous rise ever since the company's equity shares got listed and admitted to dealings on the exchanges in the list of 'T' group securities, on March1, 2019.

The stock has risen 28 percent from its listing price of Rs. 496.10 in NSE and 27.79 percent in BSE ( listed at Rs. 497.85)

Last year, Arvind had demerged its branded retail and small engineering businesses into three different entities: Arvind Ltd, Arvind Fashions and Anup Engineering. Anup Engineering manufactures critical process equipment for several core industries.

(Edited by Rupa Burman Roy)

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