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Reliance Capital Trustee Company, a subsidiary of Anil Dhirubhai Group's Reliance Capital Ltd, today increased its stake in power infrastructure builder KEC International Ltd to 5.10 per cent for over Rs 6.86 crore.
According to data available on the Bombay Stock Exchange, Reliance Capital Trustee Company purchased 8.80 lakh equity shares of KEC International in an open market transaction.
Reliance Capital Trustee Co has acquired these equity shares for various schemes of Reliance Mutual Fund, it said.
Total holding of Reliance Capital Trustee Co in KEC International stood increased to 1.31 crore equity shares, representing 5.10 per cent of the paid-up capital. KEC has a significant presence in the segments of power transmission and distribution, design services, cable, telecom, railway, water resource management and tower manufacturing. Prior to this acquisition, Reliance Capital Trustee Co owned over 1.22 crore shares, representing 4.76 per cent of the equity of the flagship company of the RPG Group.
Though Reliance Capital Trustee Co carried out the transaction on May 27, it reported to the bourses today.
Reliance Capital's subsidiary bought KEC International's equity shares through Geojit BNP Paribas Financial Services Ltd from the NSE, it said.
Shares of KEC International closed at Rs 82.35, down 0.67 per cent from the previous close on the BSE.
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