HDFC MF schemes raise stake in SKF India

Resource from: Hindu Business Line Likes:156

Jan 26,2014

HDFC Mutual Fund has hiked its stake in SKF India Ltd by acquiring 1.18 lakh shares, or 0.22 per cent of the company’s total equity, from the open market. Following the acquisition, the mutual fund now holds, through its various schemes, 5.14 per cent stake in the multinational bearing maker, according to information filed by SKF India with the stock exchanges. HDFC MF had earlier held 4.91 per cent of its equity, or 25.90 lakh shares in the company. The total number of shares now held by the MF has gone up to 27.08 lakh in SKF India Ltd, or 5.14 per cent, of the company’s equity capital base comprising 5.27 crore shares of Rs 10 each. SKF India has an equity capital base of ₹52.73 crore. According to information provided by the fund, the five schemes — HDFC Balanced Fund, HDFC Equity Fund, HDFC Children’s Gift Fund – Investment Plan, HDFC Prudence Fund and HDFC Mid-Cap Opportunities Fund — have exposure to the equity of SKF India Ltd. Following the latest purchase, the five funds would be holding 3.45 lakh shares, 9.63 lakh shares, 83,000 shares, 4.73 lakh shares and 8.43 lakh shares respectively. As at the end of December 2013, promoters’ stake in SKF India’s equity was 53.58 per cent. This was followed by domestic institutional investors with 17.62 per cent stake, foreign institutional investors with 14.77 per cent stake and others with 14.03 per cent stake in SKF India.

(Hindu Business Line)

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Parker Reports Fiscal 2014 Second Quarter Sales, Net Income and Earnings per Share
Next Service Life of ACHE Fan Bearings Doubled With Innovative Composite Assembly

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.