HDFC MF pares 2.12% stake in Garden Reach Shipbuilders and Engineers

HDFC Mutual Fund (MF) has pared 2.12 percent stake in Garden Reach Shipbuilders and Engineers (GRSE) between February 28 and August 17, held by its schemes.

The MF, informing the bourses, said it held a 7.4 percent stake in GRSE as on February 28, and this has come down to 5.28 percent as on August 17.

HDFC Balanced Advantage Fund is the MF scheme that holds a stake in GRSE. As on June 30, this scheme held a 6.04 percent stake in the company, BSE data showed. On the other hand, foreign portfolio investors (FPIs) held a 3.11 percent stake in GRSE as on June 30, 2023. The government holds 74.5 percent of the city-based PSU.

GRSE shares rose 28.53 percent during the week to close at Rs 748.55 in NSE with a high volume of trading. Foreign Portfolio Investors hold 3.11 percent in the PSU warship maker as on June 30.