Nilkanth Fincon offloads 2.5% stake in Prakash Industries

On April 04, 2014 Rakesh Junjunwalla bought 25,00,000 shares of Prakash Industries at Rs 58.96.

Kolkata-based Nilkanth Fincon Private Limited, one of the non-promoter shareholders, has reduced its equity shareholding by 2.5 percent in steel and power company Prakash Industries  on Friday.

Nilkanth Fincon sold 34,02,000 equity shares at Rs 59.18 apiece via block deal on the NSE. As of December 2013, it held 2.56 percent stake in the company.

However, Rakesh Junjunwalla has picked up 25 lakh shares, constituting 1.85 percent stake of the company at Rs 58.96.

The share on Friday closed at Rs 68.70, up 20 percent.

The company's trailing 12-month (TTM) EPS was at Rs 11.13 per share. (December, 2013). The stock's price-to-earnings (P/E) ratio was 6.17. The latest book value of the company is Rs 155.67 per share. At current value, the price-to-book value of the company was 0.44. The dividend yield of the company was 1.46 percent.

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