According to BSE, 89.14 lakh shares worth Rs 2,780 crore exchanged hands as of 10.05 am while 32.26 shares amounting to Rs 1,027.61 crore were traded on the NSE.
Timken Singapore, the parent of Timken India, sold up to 8.4% stake, or 63 lakh shares, in its India-listed firm for INR 1,890 crore through an open market transaction, fixing the floor price at INR 3,000 a share, a 14% discount to Monday s closing price of INR 3,485.5. Timken Singapore owned 67.8% in Timken India as of shareholding data for the quarter ending March 2023. Timken India s revenue from operations increased by 20% YoY to INR 802.5 crore in Q4 FY23.