HDFC MF sells 3.15% in Zee Media for Rs 26 cr

The fund house brought down its shareholding in the company to 1.89%

HDFC Mutual Fund has sold 3.15 per cent stake in media and entertainment firm Zee Media Corporation for over Rs 26 crore.

HDFC Mutual Fund, which had a 5.05 stake earlier, brought down its shareholding in the company to 1.89 per cent, Zee Media Corporation said in a filing to BSE.

The fund house sold 1.48 crore shares, or 3.15 per cent, in the open market on July 9 and based on the closing stock price of Rs 17.70, the transaction value is estimated at Rs 26.26 crore.

Zee Media Corporation's shares were trading at Rs 18.75 on BSE, down 3.10 per cent.