John Cockerill India Limited has disclosed that its promoter John Cockerill SA has sold a significant portion of its equity stake through open market transactions. The company informed BSE Limited about this substantial shareholding change under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Transaction Details

John Cockerill SA sold a total of 1,95,714 equity shares between December 22-26, 2023, through open market trades. This sale represents 5.29% of the promoter holding.

Impact on Shareholding Structure

The sale has resulted in a notable change in the company's ownership structure. Prior to these transactions, John Cockerill SA held 36,93,837 shares, representing 74.81% of the total paid-up capital. Following the disposal of 1,95,714 shares, the promoter's holding has been reduced to 35,01,986 shares.

Regulatory Compliance

The transaction represents approximately 3.96% of the company's total paid-up capital. The company has fulfilled its disclosure obligations under both Regulation 30 of SEBI Listing Regulations and Regulation 29(2) of SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011.

Company Information

John Cockerill India Limited has a total equity share capital of ₹49.38 crores, consisting of 49,37,813 equity shares of ₹10 each. Despite this significant sale, John Cockerill SA continues to maintain its status as a promoter of the company with a substantial majority holding of 70.92%.

Veteran investor Ramesh Damani has made a significant investment in John Cockerill India Ltd, acquiring shares worth Rs 13 crore in a bulk deal. The transaction demonstrates continued investor confidence in the capital goods sector, with the shares purchased at a discount to the previous closing price.

Transaction Details

The latest bulk deal data from BSE reveals multiple buyers participated in the transaction. Damani's acquisition represents a substantial commitment to John Cockerill's equity at current market levels.

Promoter Activity and Ownership Structure

Alongside Damani's acquisition, the company witnessed significant promoter activity. John Cockerill SA, the Belgian promoter entity, sold over 1.91 lakh shares valued at Rs 91 crore. John Cockerill SA is a Belgium-based industrial engineering group with global operations across energy, defence, industry, environment, transport and infrastructure, serving as the parent company of the wider John Cockerill Group.

Company Performance and Business Operations

John Cockerill India reported strong operational metrics in recent quarters. The company's September quarter standalone performance showed robust growth momentum.

John Cockerill India Limited engineers large-scale technological solutions for energy transition, sustainable industrial production, and resource preservation. The company provides advanced equipment and solutions in energy (including green hydrogen), defence, steelmaking, environmental technologies, and general industry.

Market Performance and Technical Analysis

John Cockerill shares responded positively to the investment news, ending with gains of 6.30% at Rs 5,053.65 on BSE. The stock's performance metrics reflect strong investor interest despite market volatility.

The stock is currently trading below its 50-day simple moving average of Rs 5,144.80 while remaining above its 200-day SMA of Rs 4,155.00. The 1-year returns of 13.87% have outperformed both Nifty (10%) and BSE Sensex (8%) in the same period.