The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Counter Cyclical Investments Pvt Ltd
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On the reaction day the stock moved 1.0 pts more than Nifty Microcap 250 and 1.2 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Bombay Stock Exchange has received a disclosure under Regulation 29(2) of SEBI's Substantial Acquisition of Shares & Takeovers (SAST) Regulations, 2011 from Counter Cyclical Investments Pvt Ltd, a shareholder of National Fittings Ltd. Regulation 29(2) disclosures are filed when an entity holding more than 5% of a company's shares either acquires or disposes of a block of 2% or more of the total share capital. The specific nature of the transaction — whether it is a buy or sell, and the exact change in shareholding percentage — is not detailed in the headline. Shareholders should look to the full disclosure for the direction and size of the change in Counter Cyclical Investments' stake in National Fittings.
This is a routine regulatory disclosure and not a corporate action in itself. Depending on whether Counter Cyclical Investments increased or reduced its stake, it may signal a change in conviction from an existing significant shareholder, which could marginally influence sentiment around the stock.