Usha Martin , a prominent player in the wire and wire rope industry, has seen a slight increase in promoter shareholding following a recent transaction. Stuti Jhawar, a member of the company's promoter group, has augmented her stake in the firm through an open market purchase.

Transaction Details

Stuti Jhawar acquired 15,000 equity shares of Usha Martin through open market transactions on the National Stock Exchange (NSE). This strategic move has resulted in a marginal increase in her shareholding in the company.

Impact on Shareholding

The acquisition has altered Jhawar's stake in Usha Martin as follows:

While the increase in shareholding percentage appears modest, it represents a commitment to the company by the promoter group.

Regulatory Compliance

In adherence to the Securities and Exchange Board of India (SEBI) regulations concerning substantial acquisition of shares and takeovers, Stuti Jhawar promptly disclosed this transaction. The disclosure was submitted to the company and relevant stock exchanges, demonstrating compliance with regulatory requirements.

About Usha Martin

Usha Martin is a diversified company with a significant presence in the wire and wire rope industry. The company's shares are listed on multiple exchanges, including:

• Bombay Stock Exchange (BSE)
• National Stock Exchange of India (NSE)
• Luxembourg Stock Exchange (where its Global Depository Receipts are listed)

This multi-exchange listing underscores the company's international presence and appeal to a diverse investor base.

The recent share acquisition by a promoter could be viewed as a positive signal, potentially indicating confidence in the company's future prospects. However, investors are advised to conduct their own research and consider various factors before making investment decisions.

As Usha Martin continues to navigate the dynamic business landscape, stakeholders will likely keep a close eye on any further changes in promoter holdings and the company's overall performance in the wire and wire rope sector.

Usha Martin , a prominent player in the wire rope manufacturing industry, recently witnessed a change in its promoter shareholding. Stuti Jhawar, identified as a promoter of the company, has increased her stake through an open market transaction.

Transaction Details

Stuti Jhawar acquired 10,000 equity shares of Usha Martin through open market transactions on the National Stock Exchange (NSE). This purchase has resulted in an increase in Jhawar's total shareholding from 12,50,000 shares to 12,60,000 shares.

Shareholding Impact

Despite the acquisition, Jhawar's overall stake in the company remains unchanged at 0.41% of the total voting capital. This suggests that the purchase was relatively small compared to the company's total outstanding shares.

Regulatory Compliance

The transaction was disclosed in compliance with the Securities and Exchange Board of India (SEBI) regulations for substantial acquisition of shares and takeovers. Jhawar filed the necessary disclosures under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Company Listing

Usha Martin maintains a presence on multiple stock exchanges. The company is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). Additionally, its Global Depositary Receipts (GDRs) are listed on the Luxembourg Stock Exchange, indicating the company's international market presence.

Market Activity

Interestingly, on the same day as Jhawar's share acquisition, Usha Martin received a query from the BSE regarding a significant increase in the trading volume of its securities. In response, the company affirmed its compliance with regulatory disclosure requirements and stated that there was no pending information or announcement that could have influenced the price or volume behavior of its shares.

Company Statement

Manish Agarwal, Company Secretary & Compliance Officer of Usha Martin, issued a statement saying, "We have been disclosing all the necessary information/disclosures to the Exchange in accordance with the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, from time to time. To the best of our knowledge, there exist no pending information or announcement required to be disclosed by the Company which may have a bearing on the price/volume behaviour of our scrip."

This recent development highlights the ongoing interest of promoters in Usha Martin and underscores the company's commitment to transparency and regulatory compliance in its operations and shareholding patterns.