Dutch pension fund sells Rs 55 cr stake in Crompton Greaves

Dutch pension fund Stichting Pensioenfonds ABP today offloaded stake worth Rs 55 crore in engineering conglomerate Crompton Greaves through open market transactions.
According to the bulk deals data available with NSE, the fund sold 44,31,926 shares or 0.7 per cent stake in the company for Rs 55.39 crore.
The shares were sold at an average price of Rs 125 per piece. The buyers of the stake sold could not be ascertained.
Earlier this week, the Avantha Group firm posted a consolidated net loss of Rs 107.03 crore for the quarter ended December 31.
The firm had posted a net profit of Rs 274.29 crore in the October-December quarter of the last fiscal.

Total income of the company fell to Rs 2,087.52 crore in the third quarter of 2015-16, from Rs 2,436.42 crore in the corresponding period last fiscal, the company had said in a filing.
With over 8,000 employees, the company has manufacturing facilities in several countries including Belgium, France, UK, Canada and the US.