HDFC MF buys ₹137 crore stake in Sundram Fasteners via open market deal

HDFC Mutual Fund on Friday bought shares of auto components supplier Sundram Fasteners for Rs 137 crore through an open market transaction.

According to the bulk deal data on the BSE, HDFC Mutual Fund purchased 13.70 lakh shares or 0.65 per cent stake in Sundram Fasteners, at an average price of Rs 1,000 apiece.

This took the deal value to Rs 137.02 crore.

After the stake buy, HDFC Mutual Fund's holding in Chennai-based Sundaram Fasteners rose to 5.02 per cent from 4.37 per cent.

Details of the sellers of Sundaram Fasteners shares could not be ascertained on the exchange.

Shares of Sundaram Fasteners went marginally lower to close at Rs 999.25 per piece on the BSE.

In a separate bulk deal on the NSE, Singapore-based Cube Mobility Investments offloaded 7.9 million units or 0.59 per cent unitholding in Cube Highways Trust for Rs 101 crore through an open market transaction.

As per the data, these units were disposed of at an average price of Rs 127.50 per unit, taking the deal value to Rs 101.04 crore.

Details of the buyers of Cube Highways Trust's units could not be identified on the National Stock Exchange (NSE).

The Cube Highways Trust's units ended flat at Rs 127.50 per unit on the NSE.

On Thursday, Cube Mobility Investments divested a 3.62 per cent unitholding in Cube Highways Trust for Rs 615 crore.