Harish Bhasin's firm starts to exit from DCM Shriram

The stock price of DCM Shriram has rallied more than 180% since April last year

Signaling an end to years of hostile takeover battle, late Harish Bhasin’s HB Stockholdings has started exiting the Delhi-based DCM Shriram Industries. The former broker’s firm has sold 10 per cent of its shares in the sugar and chemical maker at a premium in the last two quarters. It has raised around Rs 12 crore, while its stake has come down from almost 25 per cent last year to 22.39 per cent as on March 31. At current prices, the 22.39 per cent stake is valued at Rs 128 crore.

The stock price of DCM Shriram has rallied more than 180