Reliance Cap's arm hikes stake in HPCL to 5%

Reliance Capital Trustee Company, a subsidiary of Anil Dhirubhai Ambani Group's Reliance Capital increased its stake in state-run oil producing and marketing firm Hindustan Petroleum Corporation (HPCL) to 5.02% for over Rs 12.80 crore.

According to data available on the Bombay Stock Exchange (BSE), Reliance Capital Trustee Company purchased 3.17 lakh equity shares of HPCL in an open market transaction.

Reliance Capital Trustee Co has acquired these equity shares for various schemes of Reliance Mutual Fund, it said.

Total holding of Reliance Capital Trustee Co in HPCL stood increased to 1.70 crore equity shares, representing 5.02% of the total paid up capital of the state-run oil producing and marketing firm.

Prior to this latest acquisition, Reliance Capital Trustee Co owned over 1.67 crore shares, representing 4.93% of the total paid equity of HPCL.

Reliance Capital Trustee Co carried out the transaction on May 6, it said.

Reliance Capital's subsidiary bought HPCL equity shares through Bric Securities and SBI Cap Securities from the two leading bourses, it said.

Shares of HPCL closed at Rs 357.90, down 4.41% from the previous close on the BSE.