France-based financial services company Societe Generale has acquired 4,16,500 shares or a 1.35 percent stake in MTAR Technologies via open market transaction on June 01, 2023. It bought these shares at an average price of ₹ 1880.00 apiece, taking the transaction value to ₹ 78.30 crores. 

However, the company’s promoter Leelavathi Parvatha Reddy offloaded 3,47,000 shares of the precision engineering company at an average price of 1880.04 per share, according to the bulk deals data available with the National Stock Exchange (NSE). 

At 02:00 PM on Friday, the company’s shares were trading at ₹ 1898.00 apiece, up 1.60%. More than 2.36 lakh shares changed hands by that time on Friday. The shares reached an intraday high of ₹ 1,922.00 apiece and an intraday low of ₹ 1,879.00 apiece. 

Established in 1970, MTAR Technologies is engaged in the business of manufacturing various machine equipment, assemblies, sub-assemblies, and spare parts for energy, nuclear, space, aerospace, defence and other engineering industries. 

The company has a market capitalization of ₹ 5,746 crores and is a small-cap company. It has an ideal return on equity of 18.15% and an ideal debt to equity ratio of 0.23. The company’s shares were trading at a price to earnings ratio of 55.56 which is higher than the industry P/E of 27.86, indicating that the stock might be overvalued as compared to it peers. 

The company’s promoter hold a 46.63% stake in the company followed by mutual funds with 25.80%, retail investors with 25.06% and foreign institutions with 2.51%. 

Written By Simran Bafna 


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