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Singapore-based fund management company Amansa Holding Pte has increased its stake in tyre major Ceat to over 5 per cent by acquiring 1.17 per cent stake through secondary market purchase.
Amansa has acquired 4,75,000 shares of the tyre maker constituting 1.17 per cent stake, thereby taking its overall stake in the firm to 5.19 per cent, Ceat said in a BSE filing.
Before acquiring the 1.17 per cent stake on September 23, the fund management firm had 16,24,884 shares in Ceat, constituting 4.02 per cent stake.
Ceat manufactures radial tyres for a range of vehicles including buses, trucks, cars, bikes and scooters.
The Ceat stock ended higher by 5 per cent at Rs 1,254.80 on the BSE.
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