HDFC MF Pares 2.12% stake in GRSE

HDFC Mutual Fund (MF) has pared 2.12 per cent stake in Garden Reach Shipbuilders and Engineers (GRSE) between February 28 and August 17, held by its schemes.

The MF, informing the bourses, said it held a 7.4 per cent stake in GRSE as on February 28, and this has come down to 5.28 per cent as on August 17.

HDFC Balanced Advantage Fund is the MF scheme that holds a stake in GRSE. As on June 30, this scheme held a 6.04 per cent stake in the company, BSE data showed.

On the other hand, foreign portfolio investors (FPIs) held a 3.11 per cent stake in GRSE as on June 30, 2023. The government holds 74.5 per cent of the city-based PSU.

GRSE shares rose 28.53 per cent during the week to close at Rs 748.55 in NSE with a high volume of trading.

Foreign Portfolio Investors hold 3.11 per cent in the PSU warship maker as on June 30.

Other PSU port stocks like Mazagon Dock and Cochin Shipyard also rose during the week.