HDFC Mutual Fund has sold a significant stake in Indian Hotels Co. Ltd., leading to a decrease in its shareholding in the Tata Group company.
In a regulatory filing, HDFC Mutual Fund informed that it has sold 1,75,08,264 shares of Indian Hotels Company, aggregating to 1.23% stake in the company, through open market mode on January 15, 2025.
“…we wish to inform you that there has been a decrease in the shareholding of the Company by the Schemes of HDFC Mutual Fund by 2.06% as of January 15, 2025. As on January 15, 2025 the aggregate holding of the Schemes of HDFC Mutual Fund in the Company is 2.98% of the paid up equity share capital of the Company,”
Prior to the transaction, the fund house held 5.99 crore Indian Hotels shares with 4.21% stake in the company. After the recent sale, the shareholding of HDFC Mutual Fund dropped to 2.98% in Indian Hotels, comprising 4,23,92,146 shares.
HDFC MF’s dropping stake in Indian Hotels Company
The shareholding of HDFC Mutual Fund in Rekha Jhunjhunwala-owned Indian Hotels Company has been decreasing. The fund house held 5.037% stake in the company in October 2018.
As per the latest shareholding pattern, HDFC Mutual Fund held 3.49% stake in Indian Hotels Company at the end of September 2024 quarter. Its stake later dropped to 3.24% at the end of December 2024. HDFC Mutual Fund’s stake in Indian Hotels Company now stands at 2.98% as on January 15, 2025.
Indian Hotels Stock Price Trend
Indian Hotels share price has fallen over 8% in the past one month, but the Tata Group stock has delivered strong returns over the long run. Indian Hotels shares have risen over 37% in six months and more than 74% in the past one year period.
The Tata Group stock has given multibagger returns of 160% in two years and 285% in three years.
At 1:45 PM, Indian Hotels shares were trading 0.88% lower at ₹804.55 apiece on the BSE.
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