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SBI Mutual fund purchased 2% stake on HDFC AMC

Published on March 21, 2023
Current Context: HDFC AMC gains 5% after SBI acquires 2% stake on HDFC. These shares were sold for Rs.396.83 crores.
SBI Mutual fund purchased 2% stake on HDFC
  • Shares of HDFC surged by 5% after the purchase by SBI.
  • SBI MF bought 4.73 million shares worth 2.2% in AMC that amounted to Rs.757.4 crores. SBI MF purchased it by Rs.1600 per share.
  • GQG partners emerging Markets Equity Fund sold them by 2.48n million shares in HDFC.
  • Nifty 50 Index showed a 0.43% rise in HDFC AMC.
  • HDFC AMC has assets worth of Rs.4.48 trillion, which a leading AMC in India.

Question:

Q.1 SBI mutual fund purchased additional _____ stake on HDFC AMC.
a. 2.2%
b. 2.4%
c. 3.0%
d. 1.1%
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