Bharti (SBM) Holdings buys over 44 lakh shares of CG Power

Mumbai: Bharti (SBM) Holdings increased stake in CG Power and Industrial Solutions on Thursday by purchasing 44.6 lakh shares at Rs 38.84 per share, bulk deal data on the NSE showed. The purchase amounts to 0.7 per cent additional stake in the company. The name of the seller could not be ascertained immediately.

Bharti (SBM) has been accumulating shares of CG Power since March. The company has bought a total of 3.3 crore shares between March 11 and April 23 at a price ranging from Rs 38.12 to Rs 46.11 per share. Bharti (SBM) held 3.13 crore shares or 5 per cent stake in CG Power at the end of the quarter ended March 31.

In April, Bharti (SBM) has figured in bulk deals only on April 23 and April 25. Shares of CG Power and Industrial Solutions ended up 3.7 per cent at Rs 39.05 on the BSE on Thursday but over the last one year, the stock has fallen nearly 52 per cent.