This aerospace and defense company's shares soared on news that another company bought a stake worth Rs 247 crore.

The shares were purchased at an average price of Rs 1,880.02 apiece, taking the transaction value to Rs 247.22 crore.

The shares of MTAR Technologies climbs after Plutus Wealth Management buys shares of the company for Rs 247 crore through an open market transaction. According to the bulk deal data available with the BSE, Plutus bought 13,15,000 shares of MTAR Technologies. The shares were purchased at an average price of Rs 1,880.02 apiece, taking the transaction value to Rs 247.22 crore.

Meanwhile, promoters of MTAR Technologies -- Usha Reddy Chigarapalli, Anitha Reddy Dwaram and Kavitha Reddy Gangapatnam -- offloaded 11.20 lakh shares, amounting to 3.6 per cent stake in the firm. The shares were sold in the range of Rs 1,880-1,880.15 per piece.

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MTAR Technologies is a leading precision engineering solutions company engaged in the manufacture of mission-critical precision components with close tolerances (5-10 microns).

MTAR Technologies is currently trading at Rs 1931.50, up by 34.60 points or 1.82 per cent from its previous closing of Rs 1896.90 on the BSE. The scrip opened at Rs 1934.90 and has touched a high and low of Rs 1965.00 and Rs 1914.40 respectively. So far 50920 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52-week high of Rs 2015.00 on May 18,2023 and a 52-week low of Rs 1211.85 on July 4,2022. The current market cap of the company is Rs 5936.60 crore.

The promoters holding in the company stood at 46.63 per cent, while Institutions and Non-Institutions held 30.08 per cent and 23.29 per cent respectively.