HDFC Mutual Fund raises stake to 7.27% in mid-cap PSU stock, BEML Ltd
The fund's holding, which consisted of 21,79,541 shares with voting rights, was 5.23 percent before the acquisition.
HDFC Mutual Fund raises stake to 7.27% in mid-cap PSU stock, BEML Ltd
Largest equity Mutual fund, HDFC Mutual Fund has increased its ownership of BEML, a midcap PSU stock, from 5.23 percent to 7.37 percent. As per the disclosure, HDFC Mutual Fund acquired an additional 8,49,308 equity shares of BEML Limited through its various schemes.
The fund's holding, which consisted of 21,79,541 shares with voting rights, was 5.23 percent before the acquisition.
The company's total holding increased to 30,28,849 shares as a result of the transaction, which is equivalent to 7.27 percent of the paid-up equity share capital. On February 24, 2025, the acquisition was executed through open market transactions.
The total paid-up equity share capital of BEML Limited remained unaltered at Rs. 41,64,45,000, consisting of 4,16,44,500 equity shares of Rs. 10 each.
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The increase in stake was undertaken by various schemes under HDFC Mutual Fund, including HDFC BSE 500 ETF, HDFC BSE 500 Index Fund, HDFC Defence Fund, HDFC Balanced Advantage Fund, HDFC Manufacturing Fund, HDFC Equity Savings Fund, HDFC NIFTY500 Multicap 50:25:25 Index Fund, HDFC NIFTY Smallcap 250 ETF, HDFC NIFTY Smallcap 250 Index Fund, and HDFC Small Cap Fund.
The regulatory filing also confirms that HDFC Mutual Fund does not belong to the promoter group of BEML Limited, maintaining its position as an institutional investor.
The stock experienced a 2.5 percent decline in intra-day trading today, reaching its day's low of Rs 2555.10. Beml Ltd, a midcap stock, is currently over 53% below its 52-week low of Rs 2,536.00, which was recorded on February 24, 2025, and over 53% above its apex of Rs 5,489.15, which was reached in July 2024.
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