Bulk deals: SBI MF raises stake in Kalpataru Power; Saif India cuts holding in Pennar Industries

Stocks

Saif India, as of March 2021, already owned 1,13,14,460 equity shares or 7.96 percent of paid up equity in Pennar. With this, the total shareholding of Saif India increased to over 8.5 percent.

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SBI Mutual Fund has increased its stake in engineering, procurement, and construction company Kalpataru Power Transmission by 1.89 percent. The shares of Kalpataru were trading at Rs 428.90, up 0.61 percent at the time of writing this copy. The stock has gained 108 percent in the 12 months.

The bulk deals data available on the BSE on May 26 showed that SBI Mutual Fund has acquired 28,27,724 equity shares in Kalpataru Power at a price of Rs 425 per share, representing 1.89 percent of total paid up equity.

SBI Mutual Fund through its SBI Small Cap Fund already owned 22,64,735 equity shares or 1.52 percent of paid-up equity in Kalpataru as of March 2021, taking total shareholding to 3.41 percent.

On the other side, promoter Kalpataru Properties was the seller in the transaction, offloading 28,88,800 equity shares or 1.93 percent of the total paid-up equity at Rs 425.01 per share.

Kalpataru Power reported a healthy profit after tax of Rs 187 crore in Q4FY21 compared to Rs 13 crore in Q4FY20. EBITDA grew 15 percent YoY to Rs 445 crore.

Revenue during the quarter stood at Rs 4,086 crore up by 16 percent YoY driven by strong execution in T&D, B&F, water and urban infrastructure business.

Among other deals, Saif India IV FII Holdings sold 11,13,529 equity shares in engineering products & services provider Pennar Industries at Rs 21.14 per share on the NSE, representing 0.78 percent of the total paid-up equity of the company.

Saif India, as of March 2021, owned 1,13,14,460 equity shares or 7.96 percent of paid-up equity in Pennar. With this, the total shareholding of Saif India decreased to over 8.5 percent.

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Kolkata-based underwear company Lux Industries was also in focus on Wednesday, as WHV-EAM International Small Cap Equity Fund bought 1,44,080 equity shares (or 0.57 percent of total paid up equity) in Lux Industries at Rs 2,537.72 per share on the NSE.

WHV-EAM International Small Cap Equity Fund was formed by San Francisco-based WHV Investment Management after partnership with California-based EAM.

Lux Industries reported a healthy 118 percent year-on-year growth in profit at Rs 90.64 crore in Q4FY21 and in the same period, its revenue from operations increased 49 percent to Rs 601.31 crore, partly on the back of low base.