2 foreign funds reduce stake in Crompton Greaves

Foreign fund houses CLSA (Mauritius) and Deutsche Securities Mauritius today sold around 79 lakh shares of diversified firm Crompton Greaves for Rs 82 crore through open market transactions.

According to bulk deal on the stock exchanges, CLSA (Mauritius), which held 1.64 crore shares or 2.57% stake in Crompton Greaves at the end of June quarter, offloaded 46.23 lakh shares.

In addition, Deutsche Securities Mauritius sold 32.61 lakh shares.

The shares were sold at an average price of Rs 104 valuing the deal size to Rs 82 crore.

Meanwhile, HSBC Global Investment Funds, which has 82.70 lakh shares or 1.29% stake in Crompton Greaves, acquired another 89.15 lakh shares of the company for Rs 93 crore.

Shares of Crompton Greaves rose by 1.37% to settle at Rs 107.15 apiece on the BSE.