Shares of Amber Enterprises India Limited were trading in the green during the early trading hours on 28 August after the Singapore government picked up over 11 lakh shares of the company. 

The Singapore government purchased over 11 lakh shares of the company at an average price of 2,800 per shares, totaling the entire deal value to Rs 316 crore. 

On the other hand, Ascent Investment Holdings Pte Limited offloaded 12.6 lakh shares or 3.7% stake in the company at an average price of Rs 2,800 via block deal, amounting to Rs 353 crore. 

Amber Enterprises is in the business of manufacturing heating and ventilation equipment. The company also offers refrigerators, air-conditioners, heat exchangers, vacuum forming, home appliances, and lighting products and also produces auto parts, sheet metal components, and injection moulding. 

During its April-June quarterly report, the company reported a 9% increase in net profit to Rs 47 crore, even though the company reported a 7% decline in its revenue from operations at Rs 1,702 crore. 

The company’s refrigeration, air-conditioning and component division saw improvements in margins during the quarter under review, despite unseasonal weather patterns.

At 12:40 pm, the Amber Enterprises shares were trading at Rs 2,892.05 or 3.81% above its previous close on NSE.