Suprajit Engineering shares surged on Thursday, extending their gains for a second consecutive session, following HDFC Mutual Fund’s increased stake in the auto component manufacturer. The stock of Suprajit Engineering rose by Rs 37.3, or 10%, to Rs 409 per share on BSE, trading within Rs 38 of its 52-week high reached in July.
At 10:09 am, Suprajit Engineering shares maintained most of their intraday gains, up Rs 31.7, or 8.5%, for the day at Rs 403.5 per share on the exchange.
HDFC Mutual Fund (PAC) purchased 29.20 lakh shares of Suprajit Engineering through the open market, increasing its stake by 2.02% to 7.03%, as of December 22, according to a regulatory filing.
“We would like to inform you that the Fund’s shareholding increased by 2.02% compared to the previous disclosure made in a letter dated April 16, 2020,” the filing stated. As of December 22, 2023, the total holding of HDFC Mutual Fund’s schemes in the company is 7.03% of the paid-up equity share capital, it added.
HDFC Mutual Fund, HDFC Trustee Company Limited A/c, HDFC Multi Cap Fund, HDFC Retirement Savings Fund – Hybrid-Equity Plan, HDFC Nifty Smallcap 250 ETF, HDFC Nifty Smallcap 250 Index Fund, HDFC Small Cap Fund, and HDFC Transportation and Logistics Fund were the acquiring parties.
Previously, HDFC Mutual Fund held a 5.015% stake in the company.
“We had mentioned that as of April 15, 2020, the total holding of HDFC Mutual Fund’s schemes in SUPRAJIT ENGINEERING LTD (The Company) was 5.015% of the paid-up equity share capital of the Company (Paid-up Equity Share Capital being Rs. 139,872,473/- comprising 139,872,473 Equity Shares of Rs. 1/- each),” the filing stated.
Suprajit Engineering share price: Past performance
Suprajit Engineering shares are set to end 2023 with a gain of over 21%, in line with a 19% increase in the headline Nifty50 index.
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