Morgan Stanley buys shares worth Rs 95 cr in RK Forgings
Smallcap company Ramkrishna Forgings witnessed a couple of bulk deals on Tuesday, with Morgan Stanley buying 18.75 lakh shares worth Rs 95 crore. In a separate transaction, French multinational bank Societe Generale sold 14.75 lakh shares that were valued at Rs 75 crore.
While Morgan Stanley purchased these shares via its affiliate Morgan Stanley Asia Singapore Pte at Rs 506.7 per share, Societe Generale offloaded the shares at Rs 506.75 apiece.
The buying and selling prices were at a discount of 1.2% over the Monday closing price of Rs 512.90 on the NSE.
Ramkrishna Forgings shares today ended at Rs 508.90, down by Rs 4 or 0.8%.
Founded in 1981, Ramkrishna Forgings is a metal forming company and is known for supplying forged, machined & fabricated products to diverse sectors like automotive, railways, farm equipment, earth moving, mining & construction, oil & gas, power and general engineering.
Also Read: Mangalam Drugs Bulk Deal: Vijay Kedia's new bet is a microcap that has plunged over 70% in one year
The stock has been a market laggard, plunging 44% over the past 12 months. The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 530.8 and Rs 604.1, respectively, according to Trendlyne data.
Day's MFI has fallen to 28, according to Trendlyne. MFI is a momentum oscillator that measures buying and selling pressure using both price and volume, and a value below 30 is seen as oversold.
Also Read: Honasa Consumer Block Deal: Promoter Varun Alagh ups stake in Mamaearth parent as stock trades 15% below IPO price
The company reported consolidated net loss of Rs 9.5 crore in the September-ended quarter versus a net profit of Rs 190 crore in the year-ago period. The total revenue in the quarter under review stood at Rs 913 crore, down 13% versus Rs 1,056 crore reported in the corresponding quarter of the last financial year.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
While Morgan Stanley purchased these shares via its affiliate Morgan Stanley Asia Singapore Pte at Rs 506.7 per share, Societe Generale offloaded the shares at Rs 506.75 apiece.
The buying and selling prices were at a discount of 1.2% over the Monday closing price of Rs 512.90 on the NSE.
Ramkrishna Forgings shares today ended at Rs 508.90, down by Rs 4 or 0.8%.
Founded in 1981, Ramkrishna Forgings is a metal forming company and is known for supplying forged, machined & fabricated products to diverse sectors like automotive, railways, farm equipment, earth moving, mining & construction, oil & gas, power and general engineering.
Also Read: Mangalam Drugs Bulk Deal: Vijay Kedia's new bet is a microcap that has plunged over 70% in one year
The stock has been a market laggard, plunging 44% over the past 12 months. The stock is currently trading below its 50-day and 200-day simple moving averages (SMAs) of Rs 530.8 and Rs 604.1, respectively, according to Trendlyne data.
Day's MFI has fallen to 28, according to Trendlyne. MFI is a momentum oscillator that measures buying and selling pressure using both price and volume, and a value below 30 is seen as oversold.
Also Read: Honasa Consumer Block Deal: Promoter Varun Alagh ups stake in Mamaearth parent as stock trades 15% below IPO price
The company reported consolidated net loss of Rs 9.5 crore in the September-ended quarter versus a net profit of Rs 190 crore in the year-ago period. The total revenue in the quarter under review stood at Rs 913 crore, down 13% versus Rs 1,056 crore reported in the corresponding quarter of the last financial year.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
Next Story