1. HDFC Mutual Fund sells 2% stake in CGCEL for Rs 168 crore

HDFC Mutual Fund sells 2% stake in CGCEL for Rs 168 crore

Crompton Greaves Consumer Electricals Ltd (CGCEL) today said HDFC Mutual Fund has trimmed its stake in the company by 2.01 per cent to 7.20 per cent by sales shares worth 168 crore in the open market.

By: | New Delhi | Published: June 14, 2016 7:57 PM
HDFC Mutual Fund Before the transaction, the schemes of HDFC Mutual Fund held 5.78 crore amounting to 9.22 per cent stake which has been brought down to to 4.51 crore shares after the open market sale, it added. (Reuters)

Crompton Greaves Consumer Electricals Ltd (CGCEL) today said HDFC Mutual Fund has trimmed its stake in the company by 2.01 per cent to 7.20 per cent by sales shares worth 168 crore in the open market.

As per a BSE filing by CGCEL, HDFC Mutual Fund decreased its shareholding in the company by 2.02 per cent on June 13, 2016.

Before the transaction, the schemes of HDFC Mutual Fund held 5.78 crore amounting to 9.22 per cent stake which has been brought down to to 4.51 crore shares after the open market sale, it added.

The transaction was carried on June 13, based on the weighted average price of Rs 132.65 per share, the deal is estimated to be worth Rs 167.89 crore.

The company was listed on BSE in May after being demerged from the parent firm Crompton Greaves.

Crompton Greaves Consumer Electricals Ltd’s stock closed 2.40 per cent up at Rs 136.60 apiece on BSE. PTI SVK ABI 06141704

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