Westbridge Capital sells 2.07% of equity of CEAT worth ₹73 crore1 min read . Updated: 21 Aug 2020, 10:27 PM IST
Jwalamukhi Investment Holdings sold 8.38 lakh equity shares in the company at an average price of ₹871.26 per share on the stock exchanges, the bulk deals data showed
Private Equity firm Westbridge Capital through its investment arm, Jwalamukhi Investment Holdings, offloaded 8.38 lakh shares or 2.07% equity stake in CEAT Ltd for ₹73 crore, via bulk deals.
Jwalamukhi Investment Holdings sold 8.38 lakh equity shares in the company at an average price of ₹871.26 per share on the stock exchanges, the bulk deals data showed.
According to the latest shareholding, Jwalamukhi Investment Holdings held 5.77% equity stake in the company.
CEAT Ltd reported a consolidated loss of ₹34.8 crore as against a net profit of ₹82.6 crore in the corresponding quarter last year. Consolidated revenue fell 36% to ₹1,120.16 crore, as against ₹1,752.10 crore last year.
From the beginning of the year, CEAT Ltd lost 12% against a loss of 7% in the benchmark index, Sensex. From March lows, the stock gained 39% while Sensex was up 48%.
Shares of CEAT Ltd lost 0.70% on Friday on BSE to close at ₹868.10, while the benchmark index, Sensex gained 0.56% to close at 38,434.72 points.