Reliance, HDFC MF Invest And Rieter Machine Exits Lakshmi Machine Works
Reliance and HDFC Mutual Fund have acquired 1.77%, 1.67% stake in Lakshmi Machine Works respectively. Reliance Mutual fund bought 200000 shares for R2005 per share (R40 Cr) while HDFC bought 190087 shares for R2000 per share (R38 Cr), through bulk deal on NSE.
Meanwhile Rieter Machine Works exited LMW by selling its 3.48% stake for around R78.40 Cr.
LIC (9.71%), Voltas (5.33%) and Amansa Investments (3.82%) among others are the largest non-promoter shareholders in the company.
Founded in 1962, LMW is in textile machines manufacturing business. LMW has 60% market share in the domestic Textile Spinning Machinery Industry. It also manufactures CNC Machines tools.
Lakshmi Machines On BSE
Recently, Reliance Mutual fund invested around R13.05 Cr in HT Media and invested R7.27 Cr in Speciality Restaurants.
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|2012-10-17||Rieter Machine Works (Exit) - Lakshmi Machine - Reliance Mutual||Capital Market||
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HDFC Asset Management Company Limited
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|Reliance Capital Asset Management Limited||Reliance Capital Limited||Reliance House, Nr Mardia Plaza, Off C.G. Road,||HDFC Asset Management Company Limited||www.reliancemutual.com|
|Lakshmi Machine Works Limited||Lakshmi Mills Company Limited||Perianaickenpalayam||www.lakshmimach.com|
|Rieter-LMW Machinery Limited|
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