Aarti Industries shares fell over 3% today after HDFC AMC reduced its stake in the pharma company by 2%. The large cap stock touched an intraday low of Rs 1110.1, down 3.21% on BSE. The stock lost 3.05% in the last 2 days. The share has gained 31.63% during last one year and risen 33.66% since the beginning of this year.
In a month, the share is up 14%. Total 0.12 lakh shares of the firm changed amounting to turnover of Rs 1.31 crore on BSE.
Aarti Industries share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Market cap of the firm fell to Rs 19,393 crore on BSE.
HDFC Mutual Fund held 7.08 percent stake in Aarti Industries via its schemes on March 31, 2006. On November 19, the asset management that there has been a 2 percent reduction in the shareholding of the company.
"As on November 17, the aggregate holding of the schemes in the company is 5.08 percent (paid-up equity share capital being Rs 87,11,72,370 comprising 17,42,34,474 equity shares)," Aarti Industries said in its BSE filing.
HDFC AMC sold shares of the chemical company via open market transactions.
Meanwhile, Sensex was trading 280 points higher at 43,879. Nifty too rose 103 points to 12,875 in afternoon trade.