Swaraj Engines surges 11% as board mulls share buyback
As of September 2017, the promoters Mahindra & Mahindra and Kirloskar Industries held a combined 50.61% stake in Swaraj Engines. Individual shareholders holding was 25.6%, followed by mutual funds (12.49%) and foreign portfolio investors (5.25%). The remaining 6.05% are with the bodies corporate and NRIs.
In past five months, the stock had underperformed the market by falling 19% as compared to 7.8% rise in the S&P BSE Sensex till Thursday.
At 09:18 AM; it was up 10% at Rs 2,081 on the BSE, against 0.22% gain in the benchmark index. A combined 10,935 shares changed hands on the counter on the NSE and BSE.