 "TD Power Systems extends gain on Reliance Mutual Fund stake buy")
TD Power Systems is trading higher by nearly 5% at Rs 293, extending its previous day’s 2% gain on the National Stock Exchange (NSE), after Reliance Mutual Fund bought nearly two percentage point’s stake in heavy electrical equipment maker through open market.
On December 16, Reliance Mutual Fund purchased 595,000 equity shares representing 1.79% stake of TD Power Systems at Rs 275 per share via NSE and BSE, the bulk deal data shows.
HDFC Mutual Fund however, sold 656,610 shares of the company at an average market price of Rs 275.81 per share.
As of September 30, HDFC Trustee Company Ltd - HDFC Prudence Fund held 2.44 million shares or 7.34% stake in TD Power Systems, the shareholding pattern data shows.
The names of the other buyers are not identified immediately.
At 10:11 am, the stock was up 3.8% at Rs 291 on the NSE as compared to 0.18% gain in Nifty 50 index. A combined 29,379 shares changed hands on the counter on the NSE and BSE so far.
On December 16, Reliance Mutual Fund purchased 595,000 equity shares representing 1.79% stake of TD Power Systems at Rs 275 per share via NSE and BSE, the bulk deal data shows.
HDFC Mutual Fund however, sold 656,610 shares of the company at an average market price of Rs 275.81 per share.
As of September 30, HDFC Trustee Company Ltd - HDFC Prudence Fund held 2.44 million shares or 7.34% stake in TD Power Systems, the shareholding pattern data shows.
The names of the other buyers are not identified immediately.
At 10:11 am, the stock was up 3.8% at Rs 291 on the NSE as compared to 0.18% gain in Nifty 50 index. A combined 29,379 shares changed hands on the counter on the NSE and BSE so far.