Tricot Investments Ltd has sold 1.12 million shares or 1.49% of the equity on Friday of Timken India Ltd worth over ₹152 crore through an open market transaction.
Tricot Investments sold 11.2 lakh shares of Timken India at an average price of ₹1,360 apiece aggregating to ₹152.32 crore, according to the block data available on the NSE.
HDFC Mutual Fund and Nippon India Mutual Fund were the buyers who bought the shares at the same price in separate transactions.
According to the latest shareholding pattern, Tricot Investments Ltd held 2.36% stake in Timken India, which makes bearings and power transmission products.
Timken India reported a fall of 56.03% in net profit to ₹37.18 crore for December quarter 2020 against a profit of ₹84.56 crore in the year-ago period. Net sales rose 1.79% to ₹385.38 crore for the quarter ended 31 December 2020 over ₹378.60 crore in the same period a year ago.
From the beginning of the calendar year, Timken India gained 4.20% against a rise of 6.10% in the benchmark index, Nifty.
Shares of Timken India gained 0.89% to close at ₹1385.45 on Friday on the NSE, while the benchmark index, Nifty lost 0.26% to 14834.85.