Reliance Mutual Fund has bought 5% stake in LG Balakrishnan and Brothers for Rs 11 crore through open market transaction. Reliance MF has bought 4,00,000 shares of the company at a price of Rs 281 per share.
Meanwhile, International Finance Corporation has sold 405,869 shares of LG Balakrishnan at a price of Rs 281.01 per share.
As on December 31, 2013, International Finance Corporation held 541,681 shares or 6.9% stake in LG Balakrishnan.
The company is premier manufacturer of both automotive and industrial chains under the popular brand name ‘ROLON’. The company is now surging ahead to become a metal forming company concentrating on hot, warm & cold forging, blanking, fine blanking & precision machined parts.
