HDFC Mutual Fund continued to be seller in Bajel Projects, the power transmission and distribution infrastructure services provider, for the second consecutive session, offloading 1.9 percent via open market transactions on September 11.
The stock corrected 0.83 percent to close at Rs 193.36 amid high volumes, extending downtrend for sixth consecutive session and trading below all key moving averages. Overall it has been under pressure since July, falling nearly 27 percent from July swing high of Rs 263.9.
HDFC Mutual Fund sold 9,46,288 equity shares in Bajel Projects, which was earlier a part of Bajaj Electricals, at Rs 195.25 per share, and 12.5 lakh shares at Rs 195.14 per share.
The total 21,96,288 shares (equivalent to 1.9 percent) sold in the open market by the mutual fund house were worth Rs 42.86 crore.
In the previous session, HDFC Mutual Fund had offloaded 18,93,098 shares (1.63 percent stake) valued at Rs 36.9 crore percent, taking the total stake to 3.53 percent sold by the AMC in the company in last two consecutive sessions.
HDFC Asset Management Company through its Small Cap Fund held 58,31,624 shares (5.04 percent stake) in Bajel Projects as of June 2025.
The profitability of the company was impacted in quarter ended June 2025 partly due to lower other income and higher finance cost. Profit fell by 46.5 percent to Rs 2.95 crore in Q1FY26, down from Rs 5.5 crore in the same period last year.
Revenue increased by 18.7 percent year-on-year to Rs 607.6 crore in the same period. On the operating front, EBITDA surged 133.2 percent to Rs 16.55 crore, increasing from Rs 7.1 crore, with margin expanding by 134 bps to 2.72 percent in Q1FY26.
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