Deutsche Securities buys 6 lakh shares of Mahindra Forgings

MUMBAI: Foreign fund house Deutsche Securities Mauritius today picked up nearly six lakh shares of Mahindra Forgings for Rs 4.11 crore through open market transactions.

A total of 5,96,784 shares of Mahindra Forgings were purchased by Deutsche Securities, as per the bulk deal information available with the stock exchanges.

The shares were bought at an average price of Rs 68.88 apiece, valuing the transaction at Rs 4.11 crore.

Mahindra Forgings, which is part of leading business conglomerate Mahindra Group is into manufacturing forged products for automotive, agriculture, railway, mining, construction and other industries. The company has production plants in India, Germany and the UK.

Shares of Mahindra Forgings climbed 3.47 per cent to settle at Rs 68.60 apiece, on the BSE at the close of trade today.