New Delhi: HDFC Mutual Fund has reduced its stake in FMCG firm Procter & Gamble Hygiene & Health Care Ltd (P&G) by 2.01 percent by selling 6.52 lakh shares for Rs 429 crore in the open market.
HDFC Mutual Fund, which had 5.07 percent stake earlier, brought down its shareholding in the company to 3.06 percent, P&G said in a filing to the BSE.
The shares were offloaded on July 6, 2015 and 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 closed 1.59 percent up at Rs 6,685.40 apiece on the BSE.
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