SITI Networks hits over four-year low; stock falls 14%

On February 28, HDFC Asset Management Company A/c HDFC Mutual Fund sold 2% stake or 5.86 million shares of SITI Networks through open market.

SITI Networks hit an over four-year low of Rs 15.70, down 14% on the BSE in intra-day trade, on back of heavy volumes. The stock is trading at its lowest level since September 2013.

In past six trading sessions, the market value of Essel Group Company declined 19% after the HDFC Asset Management Company A/c HDFC Mutual Fund sold more than 2% stake or 5.86 million equity shares of the company through open market.

On February 28, 2018, the aggregate holding of the Schemes of HDFC Mutual Fund in the company has decreased by 2.01% to 3.98% after