Foreign fund house Deutsche Securities Mauritius today reduced its exposure to UB Group company McDowell Holdings by selling over two lakh shares of the company for Rs 1.67 crore in bulk deal transactions.
At the end of June quarter, Deutsche Securities Mauritius held 4.09 lakh shares, or 2.92% stake in McDowell Holdings.
The fund sold 2.09 lakh shares of the UB Group firm at an average price of Rs 80.03, valuing the deal to Rs 1.67 crore, according to the bulk deal data of stock exchanges.
Meanwhile, Route One Fund acquired 2.16 lakh shares of McDowell Holdings for Rs 1.73 crore.
Shares of McDowell Holdings today fell by 1.82% to close at Rs 81.05 apiece on the BSE.
