Now, Saminathan offloads 6% in Pyramid

P Vinod Kumar
Posted: Tuesday, Jan 13, 2009 at 2155 hrs IST
Updated: Tuesday, Jan 13, 2009 at 2155 hrs IST

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chennai: last year. Despite repeated attempts, company officials were not available for comment.

The progressive reduction of stake by promoters in PSTL has surprised many analysts as Saminathan has been consistently saying that he would buyout his partner Kotecha from the company through off-market deals. Now, with the chairman and his immediate family selling parts of their stake in the company is puzzling, they said.

According to the information available on the BSE website, six entities had bought Pyramid stake through its bulk deal window. These were Latin Manharlal Securities (2,11,323 shares), BP Fintrade (4,38,286 shares), Dynamic Stock Broking (1,52,789), Multiplier Shares and Stock Broking (1,54,383), Mukesh Jain (1.5 lakh) and PS Saminathan himself (four lakh shares).

Other than Saminathan, who bought the shares on November 19, 2008, all have bought the shares except Mukesh Jain on January 1, 2009....

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