Electrosteel Castings’ promoters -- Asha Kejriwal, Mayank Kejriwal, and Wilcox Merchants have hiked their shareholding in the company through open market deals worth around Rs 133.74 crore. These promoters have combined bought around 1.88 crore shares, representing 3.03% of total shareholding, of the company. Asha Kejriwal has bought around 55.94 lakh shares at an average price of Rs 71.30 apiece, Mayank Kejriwal around 83.43 lakh shares at Rs 71.20 apiece and Wilcox Merchants 48.25 lakh shares at Rs 71.4 apiece.
Meanwhile, Belgrave Investment Fund has sold around 1.88 crore shares at an average price of Rs 71.28 apiece and around 1.01 crore shares at an average price of Rs 72.33 apiece. The transactions amounted to a 4.67% stake in the company worth around Rs 207.14 crore.
Electrosteel Castings is engaged in the manufacture and supply of Ductile Iron (DI) Pipes, Ductile Iron Fittings (DIF) and Cast Iron (CI) Pipes as its core business and also produces Pig Iron, Metallurgical Coke, Sponge Iron, Sinter, Cement, Ferro products, along with the same.
