SBI and Tata MF Invest Heavily in Ratnamani Metals & Tubes

SBI Mutual Fund and Tata Mutual Fund have acquired shares worth Rs 262 crore in Ratnamani Metals & Tubes via open market transactions, increasing SBI's holding significantly. Meanwhile, Nalanda Capital sold a substantial portion of its stake. The company's stock closed lower despite these activities.

In a major investment maneuver, SBI Mutual Fund and Tata Mutual Fund have acquired shares worth Rs 262 crore in Ratnamani Metals & Tubes through open market transactions, marking a significant increase in SBI's holding.

According to data from the National Stock Exchange, SBI Mutual Fund bought 7.55 lakh shares, while Tata MF purchased 30,000 shares. Together, these transactions account for a 1.12 percent stake in the company. The shares were acquired at an average price of Rs 3,335 each, culminating in an aggregate deal value of Rs 261.80 crore.

Meanwhile, Singapore-based Nalanda Capital, through its affiliate Nalanda India Fund, offloaded 7.85 lakh shares of Ratnamani Metals & Tubes at the same price. Despite these movements, shares of Ratnamani Metals & Tubes fell 1.27 percent to close at Rs 3,325.10 apiece on the NSE.

(With inputs from agencies.)