Raunaq EPC International Limited (REIL), part of Promoters/Promoter group has announced the selling of 39,568 (0.42%) Equity Shares of Bharat Gears Limited (BGL) in open market to meet its working capital requirements.
Raunaq EPC International Limited (REIL) holds 2,92,980 Equity Shares comprising of 3.15% in Bharat Gears Limited (BGL) as per the latest shareholding pattern as on 30th September,2019 filed by BGL with the Exchanges, falling under the category of promoters/promoter group of BGL.
To meet the day to day working capital requirements, REIL proposes to sell the aforesaid shareholding in the open market in one or more tranches.
Therefore, a tranche comprising of 39,568 (0.42%) Equity Shares has been sold in the open market on November 27, 2019 for the aforesaid purpose and the balance shareholding held by REIL may atso be sold in the open market by REIL in near future to meet out its working capital requirements.
Being under the promoters/promoter group of BGL, the Company is not in any way directly or indirectly in possession of any Unpublished Price Sensitive Information (UPSI) of BGL and all trades in terms of this intimation shall be executed only during the period when the trading window of BGL for its promoters / promoter group / insiders in terms of the SEBI (Prohibition of Insider Trading) Regulations, 2015 remains open.
Shares of Raunaq EPC International Ltd was last trading in BSE at Rs.36.3 as compared to the previous close of Rs. 35.6. The total number of shares traded during the day was 400 in over 6 trades.
The stock hit an intraday high of Rs. 36.3 and intraday low of 34.9. The net turnover during the day was Rs. 14300.