Varroc Engineering up 8% as HDFC AMC ups shareholding
After the open market transaction, HDFC AMC’s shareholding in Varroc has climbed to 5.11 per cent from 4.53 per cent earlier.
By Bhaskar Dutta, ETMarkets.com |
Reuters
NEW DELHI: Shares of Varroc Engineering jumped almost 8 per cent on Thursday as HDFC Asset Management Company took a 0.58 per cent stake in the company through open market transactions on Tuesday.
At 09:50 hours (IST) shares of Varroc Engineering were up 7.74 per cent at Rs 316.70 on the National Stock Exchange.
After the open market transaction, HDFC AMC’s shareholding in Varroc has climbed to 5.11 per cent from 4.53 per cent earlier.
The company, which manufactures and supplies precision components to automobiles (among other products) had reported a consolidated year-on-year loss of Rs 229 crore in April-June, with revenue from operations declining 19 per cent sequentially.
It is yet to report its earnings for July-September.
At 09:50 hours (IST) shares of Varroc Engineering were up 7.74 per cent at Rs 316.70 on the National Stock Exchange.
After the open market transaction, HDFC AMC’s shareholding in Varroc has climbed to 5.11 per cent from 4.53 per cent earlier.
The company, which manufactures and supplies precision components to automobiles (among other products) had reported a consolidated year-on-year loss of Rs 229 crore in April-June, with revenue from operations declining 19 per cent sequentially.
It is yet to report its earnings for July-September.
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