HSBC reduces its stake to 5.89% in Radico Khaitan

HSBC Global Investments Funds today reduced its stake in liquor firm Radico Khaitan to 5.89 per cent after offloading shares in the open market.

HSBC sold 8,52,192 shares of Radico Khaitan.

As per Radico Khaitan's closing price of Rs 114.6 on BSE, the transaction is valued at Rs 9.7 crore.

Post transaction, HSBC has 78,42,003 shares of the company. Earlier it had 6.53 per cent stake, or 86,94,195 shares, in Radico Khaitan.