HDFC MF sells 2.01% stake in Procter & Gamble for Rs 429 cr

HDFC Mutual Fund has reduced its stake in FMCG firm Procter & Gamble Hygiene & Health Care (P&G) by 2.01 per cent by selling 6.52 lakh shares for Rs 429 crore in the open market.

HDFC Mutual Fund, which had 5.07 per cent stake earlier, brought down its shareholding in the company to 3.06 per cent, P&G said in a filing to the BSE.

The shares were offloaded on July 6, 2015 and based on the closing stock price of Rs 6,580.75, the transaction is estimated to have been valued at Rs 429.27 crore.

Procter & Gamble shares on Tuesday closed 1.59 per cent up at Rs 6,685.40 apiece on the BSE.