Mathran Securities has acquired a total of 1,93,384 shares of Mahindra Ugine Steel Company through an open market transaction. The company has bought these shares at an average price of Rs 98.57 apiece, valuing the transaction at Rs 1.90 crore.
Recently, Mahindra Ugine sold entire shareholding of 51, 00,000 equity shares of Rs 10 each held by the company in Mahindra Sanyo Special Steel (MSSSPL), a subsidiary of the company, constituting 51% of the equity share capital of MSSSPL, to Mahindra & Mahindra for an aggregate consideration of Rs 214.33 crore.
Mahindra Ugine Steel, which is part of leading business conglomerate Mahindra Group is into manufacturing steel products for automotive, engineering, ball bearing, oil, gas and mining, defence, railways and other industries.
