Promoters sell stake in Shivalik Bimetal in a block deal

MUMBAI: Promoters Angad Estates, Ultra Portfolio Management, BS Sandhu & Associates and Amar Engineering sold shares of Shivalik Bimetal Controls worth Rs 632.13 crore in a block deal on NSE Friday.

They sold 1.03 crore shares at Rs 610.6 apiece. As of June 30, the promoters jointly held 18.77% stake in the company.

Aditya Birla Sun Life MF, Sundaram MF, HSBC MF, Franklin Templeton MF and India Acorn Fund were among the buyers in the deal. Shares of Shivalik Bimetal Controls gained 1.18% to close at Rs 624 on Friday.