disclosure under Reg. 29(2) of SEBI (SAST) Regulation, 2011
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On the reaction day the stock moved 2.0 pts more than Nifty Microcap 250 and 2.0 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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Promoter group member Pradeep Jain has sold 16,20,000 equity shares (3.59%) of Rajasthan Tube Manufacturing Company on 26th May 2025 through open market sale. His holding has reduced from 32,16,330 shares (7.14%) to 15,96,330 shares (3.55%). The transaction was disclosed under SEBI's Takeover Regulations. The company's total equity share capital remains at 4,50,78,000 shares.
The promoter has cut his stake by roughly half, dropping below the 5% disclosure threshold. Such open market selling by a promoter can be viewed negatively by the market as it may signal reduced confidence or the need to exit, potentially putting pressure on the stock price.