This Article is From Jul 08, 2015

HDFC MF Sells Rs 429-Cr Stake in Procter & Gamble

New Delhi: HDFC Mutual Fund has sold 6.52 lakh shares worth Rs 429 crore in Procter & Gamble Hygiene & Health Care Ltd (P&G) via open market, reducing its stake in the FMCG firm by 2.01 per cent.

HDFC MF, which had a 5.07 per cent stake in the firm earlier, brought down its shareholding in the company to 3.06 per cent, P&G said in a filing to the BSE.

The shares were offloaded on July 6, 2015.

Based on the closing stock price of Rs 6,580.75, the transaction is estimated to have been valued at Rs 429.27 crore.

Procter & Gamble shares, on Tuesday, ended 1.59 per cent higher at Rs 6,685.40 apiece on the BSE.