Edelweiss group firm buys 3% stake in Techno Electric & Engineering Co

Edelweiss group firm Ecap Equities on Tuesday bought over 3 per cent stake in Techno Electric & Engineering Company for Rs 970 million, through open market transactions.

Ecap picked up 3500 thousand shares, amounting to 3.11 per cent stake in the engineering firm, according to the bulk deal data available with the NSE.

Of the 3.5 million shares, 2 million were purchased at an average price of Rs 279.11, while 1.5 million were bought at a price of Rs 277.47 a piece.
 

The combined value of the two transactions stood at Rs 974 million.

 

Among the sellers of the shares was J P Financial Services.

Techno Electric & Engineering Company's stock ended 9.41 per cent down on the NSE at Rs 258.