Promoter group hikes stake in Revathi Equipment

A promoter-controlled investment vehicle, Renaissance Asset Management has hiked its stake in Revathi Equipment through secondary market purchases, a BSE announcement said.

Last month, Renaissance, which is owned by Abhishek Dalmia-controlled Renaissance Group, picked up 0.31% to hike Dalmia's shareholding in the Coimbatore-based company to over 64%.

Shares of Revathi Equipment were marginally up at Rs 445.10, at 10:10 AM.