Kodai Investment and Trading Company, one of the shareholders, sold Rs 2.5 crore worth of equity shares of Orient Abrasives via block deal on Thursday.
The shareholder offloaded 13.88 lakh shares (1.16 percent) at Rs 18 apiece. It was holding 1.52 percent stake as of September 2013.
However, LTS Investment Fund bought more than 21 lakh shares at same price on Thursday.
Shares of Orient Abrasives closed at Rs 18.10, down 5.97 percent on the Bombay Stock Exchange. It rallied more than 105 percent in past one year.
The share touched its 52-week high Rs 22.50 and 52-week low Rs 8.80 on June 6, 2013 and November 21, 2012, respectively. Currently, it is 19.56 percent below its 52-week high and 105.68 percent above its 52-week low. Market capitalisation of the company currently stands at Rs 216.55 crore.
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