/ HDIL Tumbles On NSE Platinum Investment Management Sells 0.6% Stake In HDIL ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 2 February 2017

In a recent development, Platinum Investment Management Ltd., (PIML) sold its 0.6% stake in Housing Development and Infrastructure Ltd., (HDIL). As of Dec 31, 2016, Platinum Asia Fund held 3.62% stake in the company.

The sale was carried through Platinum Asia Fund on Thursday. PIML sold 2.6 mn shares of HDIL at Rs 64.57 a share, through a bulk deal on the National Stock Exchange. After the announcement, HDIL tumbled to Rs 63.75 per share, down by Rs 2.3 per share or 3.48% on NSE.

Platinum Investment Management Ltd., is an Australia-based fund manager specialising in investing into international equities. HDIL is a listed real estate development company with significant operations in the Mumbai Metropolitan Region. 

Housing Development & Infrastructure Ltd is currently trading at Rs 64.5, down by Rs 1.6 or 2.42% from its previous closing of Rs 66.1 on the BSE. The scrip opened at Rs 66.5 and has touched a high and low of Rs 66.5 and Rs 63.65 respectively. So far 13627734(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2868.77 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 108.75 on 12-Jul-2016 and a 52 week low of Rs 52.25 on 27-Dec-2016. Last one week high and low of the scrip stood at Rs 66.6 and Rs 61.6 respectively.

The promoters holding in the company stood at 36.49 % while Institutions and Non-Institutions held 44.26 % and 19.25 % respectively. The stock is currently trading above its 200 DMA.

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