HDFC AMC sold shares of the chemical company via open market transactions.
Aarti Industries shares fell 2.8 percent intraday on November 20 after HDFC AMC lowered its stake in the company by 2 percent.
The aggregate holding of the schemes of HDFC Mutual Fund in Aarti Industries was 7.08 percent of the paid-up equity share capital of the company as on March 31, 2006.
The asset management company said on November 19 that there has been a 2 percent decrease in the shareholding of the company.
"As on November 17, the aggregate holding of the schemes in the company is 5.08 percent (paid-up equity share capital being Rs 87,11,72,370 comprising 17,42,34,474 equity shares)," Aarti Industries said in its BSE filing.
HDFC AMC sold shares of the chemical company via open market transactions.The stock price was quoting at Rs 1,117.45, down 2.57 percent on the BSE at 1101 hours IST.