Religare Finvest hikes stake in Hindustan Tin to 14.09%
New Delhi: Packaging company Hindustan Tin Works on Thursday said Religare Finvest has increased its stake in the firm by 2.41 percent to 14.09 percent.
"Shares offered as part of collateral/encumbrances created in consideration of borrowings by various clients over a period of time...," Hindustan Tin Works said in a regulatory filing on the "mode of transaction".
It, however, did not specify the date of transaction.
Non-banking financial company Religare Finvest had 12.15 lakh shares, or 11.68 percent, stake in Hindustan Tin Works before the transaction. It now has 14.65 lakh shares in the company.
As on June 30, Hindustan Tin Works' promoters had 38.35 percent stake in the company.
Shares of Hindustan Tin Works today settled at Rs 51.45 apiece at the BSE, up 1.68 percent over their previous close.