Mathran Securities buys 1.93 lakh Mahindra Ugine Steel shares

MUMBAI: Mathran Securities today picked up nearly two lakh shares of Mahindra Ugine Steel Co for estimated Rs 1.90 crore through an open market transaction.

A total of 1,93,384 shares of Mahindra Ugine Steel Company were acquired by Mathran Securities, as per the bulk deal information with the stock exchanges.

The shares were purchased at an average price of Rs 98.57 apiece, valuing the transaction at Rs 1.90 crore.

Mahindra Ugine Steel, which is part of leading business conglomerate Mahindra Group is into manufacturing steel products for automotive, engineering, ball bearing, oil, gas and mining, defence, railways and other industries.

Scrip of Mahindra Ugine Steel was last week shifted to the restricted trading category on BSE and NSE, as part of a surveillance review.

Shares of Mahindra Ugine Steel today fell 2.77 per cent to settle at Rs 92.90 apiece, on the BSE.