HDFC Mutual Fund Acquires Stake in Sundram Fasteners

HDFC Mutual Fund acquired 0.65% stake in Sundram Fasteners for Rs 137 crore, raising its holding to 5.02%. Sundram Fasteners' shares slightly dropped on the BSE. Cube Mobility Investments offloaded a 0.59% stake in Cube Highways Trust for Rs 101 crore, with units staying flat on the NSE.

HDFC Mutual Fund made a significant move on Friday by purchasing a 0.65% stake in Sundram Fasteners, an auto components supplier, through an open market transaction valued at Rs 137 crore.

The transaction details from BSE's bulk deal data reflect that HDFC Mutual Fund acquired 13.70 lakh shares at an average price of Rs 1,000 each, increasing its stake in the Chennai-based company to 5.02% from a previous 4.37%.

In the meantime, Singapore's Cube Mobility Investments divested its 0.59% unitholding in Cube Highways Trust for Rs 101 crore at an average price of Rs 127.50 per unit, according to NSE data.

(With inputs from agencies.)