Reliance Defence and Engineering rose 0.64% to Rs 54.80 at 10:06 IST on BSE after Morgan Stanley Mauritius Company purchased bulk shares of the company in bulk deals on Friday, 23 December 2016.
Meanwhile, the S&P BSE Sensex was down 238.94 points or 0.92% at 25,801.76.
On the BSE, 1.98 lakh shares were traded on the counter so far as against the average daily volumes of 5.37 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 2.66% at the day's high of Rs 55.90 so far during the day. The stock rose 0.09% at the day's low of Rs 54.50 so far during the day.
The stock had hit a 52-week high of Rs 114 on 28 December 2015 and a 52-week low of Rs 48.40 on 22 November 2016. It had outperformed the market over the past one month till 23 December 2016, advancing 7.61% compared with the Sensex's 0.04% fall. The scrip had, however, underperformed the market in past one quarter, declining 10.44% as against Sensex's 9.17% fall.
The mid-cap company has equity capital of Rs 736.21 crore. Face value per share is Rs 10.
Valiant Mauritius Partners Offshore sold 68.82 lakh shares of Reliance Defence and Engineering (RDEL) at Rs 53.25 per share in a bulk deal on the BSE on Friday, 23 December 2016. Valiant Mauritius Partners offloaded 54.40 lakh shares at Rs 53.25 a piece. Morgan Stanley Mauritius Company bought the entire 1.23 crore shares in these deals.
Valiant Mauritius Partners owned 2.23% in RDEL end September 2016.
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Reliance Defence and Engineering reported net loss of Rs 116.29 crore in Q2 September 2016, lower than net loss of Rs 170.49 crore in Q2 September 2015. Net sales rose 86.2% to Rs 96.85 crore in Q2 September 2016 over Q2 September 2015.
Reliance Defence and Engineering (formerly Pipavav Defence and Offshore Engineering Company) is into building defence warships.
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