Usha Martin tumbles as its two promoters offload equity stakes

Usha Martin is currently trading at Rs. 107.75, down by 5.35 points or 4.73% from its previous closing of Rs. 113.10 on the BSE.

Usha Martin
Usha Martin

The scrip opened at Rs. 116.25 and has touched a high and low of Rs. 121.40 and Rs. 107.70 respectively. So far 28643 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 164.65 on 26-Apr-2022 and a 52 week low of Rs. 50.00 on 18-Jun-2021.

Last one week high and low of the scrip stood at Rs. 121.40 and Rs. 101.35 respectively. The current market cap of the company is Rs. 3353.69 crore.

The promoters holding in the company stood at 49.26%, while Institutions and Non-Institutions held 8.74% and 42.00% respectively.

Usha Martin’s two promoters namely — Peterhouse Investments and PACs have sold 63,000 equity shares of company via open market transactions.

The two promoters’ shareholding in the company thus decreased to 1.91 percent from 1.94 percent.

Usha Martin is engaged in manufacture and sale of steel wires, strands, wire ropes, cord, related accessories and manufacture and sale of wire drawing and allied machines.

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