The central public sector company REC released its shareholding data for the September quarter.
What Happened: Mutual funds reduced their shareholding in REC to 8.94% in the September quarter, down from 9.11% in the June quarter. Nippon India Growth Fund increased its shareholding to 1.28% from 1.12% in the previous quarter.Â
On the other hand, HDFC Balanced Advantage Fund reduced its ownership to 1.47% from 1.63%. LIC increased its stake to 1.35% from 1.07%.
See Also: Mutual Fund, FIIs Increases Stake In IEX
Meanwhile, the foreign institutional investors (FII) increased their stake in the power financing company to 21.73% from 20.43%. The Government of Singapore increased their stake to 1.56% from 1.02%.Â
The shareholding of Power Finance Corporation, REC’s promoter, remained unchanged at 52.63%. Â
The number of retail investors in the scrip increased to 10.08 lakh from 10.02 lakh. However, their total ownership in the stock reduced to 7.98% from 8.17%.
Price Action: Shares of REC were up 0.33% to ₹553.90 on Thursday morning.
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