HDFC Mutual Fund Increases Stake In Cyient For Rs 204 Crore

HDFC Mutual Fund on Thursday bought shares of global digital engineering and technology company Cyient Ltd. for Rs 204 crore through an open market transaction.

According to the bulk deal data available with the BSE, HDFC Mutual Fund purchased 11.33 lakh shares, amounting to a 1.02% stake in Cyient.

The shares were picked up at an average price of Rs 1,800 apiece, taking the deal size to Rs 204.10 crore.

After the stake buy, HDFC Mutual Fund's shareholding in Cyient has increased to 2.1% from 1.08%.

The details of the sellers could not be ascertained.

On Thursday, shares of Cyient fell 0.67% to close at Rs 1,794.30 apiece on the BSE.

In a separate transaction on the NSE, Ventureast divested a 1.8% stake in fintech player Zaggle Prepaid Ocean Services for Rs 67 crore through an open market transaction.

Bengaluru-based Ventureast through its affiliate Ventureast Proactive Fund LLC offloaded 22.27 lakh shares, amounting to a 1.8% stake in Zaggle Prepaid Ocean Services, as per data on the National Stock Exchange.

The shares were disposed of at an average price of Rs 302 apiece, taking the deal value to Rs 67.26 crore.

After the stake sale, Ventureast's shareholding in Zaggle Prepaid Ocean Services declined to 1.82% from 3.64%.

Meanwhile, ACM Global Fund VCC, Astorne Capital VCC Arven, ICICI Prudential Mutual Fund, and Tara Emerging Asia Liquid Fund were the buyers of the shares.

On Thursday, shares of Zaggle Prepaid Ocean Services gained 0.43% to close at Rs 303.35 apiece on the NSE.

In another transaction, ICM Finance pared a 1.5% stake in Inox Green Energy Services for Rs 63 crore through open market transactions.

ICM Finance sold 44,12,880 shares in two tranches, representing a 1.5% stake in Inox Green Energy Services, as per the data.

The shares were sold within the price range of Rs 144.53-144.58 apiece, taking the combined deal value to Rs 63.78 crore.

Meanwhile, Singapore-based Sixteenth Street Capital through its arm acquired 40 lakh shares of Inox Green Energy Services at an average price of Rs 144.50 apiece.

This took the deal value to Rs 57.80 crore.

The scrip of Inox Green Energy Services rose 2.04% to settle at Rs 147.45 per piece on the NSE.