India's Shanthi Gears at 10-month high after major shareholder raises stake
24/08/2026 09:16
BUZZ-India's Shanthi Gears at 10-month high after major shareholder raises stake ** Shares of India's Shanthi Gears SHNT.NS rise as much as 18% to 548 rupees, their highest level since October 21, 2025
** Shanthi Gears' majority shareholder Tube Investments of India TBEI.NS bought 2.06 million shares worth 774.9 million rupees ($8.1 million) via block deal on Friday, exchange data shows
** Shares sold by Pacific Assets Trust PLC
** Tube Investments held 70.46% stake in SHNT, as of the quarter ended June 30
** Stock trading volume hits a record high; more than 10 million shares change hands, ~110x of 30-day average daily volume
** Stock up 11.8% YTD
($1 = 95.7225 Indian rupees)
(Reporting by Payel Das in Bengaluru)
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