Comments
Shares of HDFC Asset Management Company hit a 52-week low of ₹1,595.25 as a large quantity of shares exchanged hands through block deals on the NSE.
GQG Partners sold 24.78 lakh shares (1.16 per cent stake) at ₹1,600.85 a share. SBI Mutual Fund bought 47.33 lakh shares (2.21 per cent stake) at ₹1,600 a piece, taking the aggregate value to ₹757.40 crore.
HDFC AMC opened at ₹1,700 and touched day’s high of ₹1,728. It hit a low of ₹1,595 before closing flat at ₹1,683 on Monday.
GQG Partners, which recently invested heavily in Adani Group companies, has trimmed its stake in the mutual fund company from 5.33 per cent to 2.76 per cent. The stake was sold between August 23, 2022, and March 15, 2023, HDFC AMC said in a disclosure to the stock exchanges last week.
Other deals
Meanwhile, in a separate bulk deal, PPFAS Mutual Fund bought about 11.23 lakh shares of UTI Asset Management at an average price of ₹636. However, seller’s identity could be ascertained.
In another deal, Shrem Infra Structure Pvt Ltd sold ₹178-crore worth Shrem InvITs. Shrem Infra Structure Pvt Ltd, sponsor of Shrem InvIT (Shrem Infrastructure Investment Trust), sold 1.56 crore units at an average price of ₹114. The buyers were Rohit Kapadia (42 lakh units) and Kairus Shavak Dadachanji (90 lakh shares).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.