HDFC MF sells 5 pc stake in Huhtamaki PPL

HDFC Mutual Fund today sold five per cent stake in packaging firm Huhtamaki PPL Ltd (HPPL) for nearly Rs 87 crore through an open market transaction.
According to the bulk deal data available with BSE, the fund house offloaded 37,80,725 shares, or 5 per cent stake, in the packaging firm.
The shares were disposed of at an average price Rs 230 apiece, valuing the transaction at Rs 86.96 crore, as per the data.
Among the buyers was NTAsian Discovery Master Fund, which bought 34,54,300 shares of the firm.
HPPL stock settled at Rs 236.10 per unit on the BSE, up 0.85 per cent from the previous close.

Huhtamaki PPL Ltd manufactures primary consumer packaging and labelling materials and its client list includes Britannia, Coca Cola, Ferrero, Glaxo Smithkline, Nestle, Pepsico, and Unilever, among others.