India's Triveni Turbine rises as GIC, other investment firms buy stake

Triveni Engineering and Industries

22/09/2022 06:40

** Shares of power equipment maker Triveni Turbine (TTL)
 TRVT.NS  rise as much as 6.1% to 245.5 rupees
    ** Marquee investors including Abu Dhabi Investment
Authority, GIC, Nomura, and domestic mutual funds bought a
11.85% stake in TTL on Wednesday, at 226.7 rupees/shr, after
major shareholder Triveni Engineering and Industries (TREI)
 TREI.NS  exited its entire 21.85% stake in the company 
    ** Promoter Rati Sawhney bought 10% stake in TTL at 229
rupees/shr https://bityl.co/EdSI
 
    ** TREI exit is part of monetizing non-core assets
    ** On Thursday, more than 3 mln TTL shares changed hands by
0500 GMT, 2.6x 30-day avg of 1.2 mln shares 
    ** As of last close, TTL up 22.6% this year
($1 = 80.3650 Indian rupees)
 (Reporting by Navamya Ganesh Acharya)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))