HFCL Share Price Gain Over 2% Despite Promoter Reducing Stake

HFCL share price rose over 2% on Thursday, March 27, even as its promoter reduced its stake in the company. The stock opened at ₹79.77 on the BSE, up slightly from its previous close of ₹79.75, and touched an intraday high of ₹81.43. As of 11:50 AM, it was trading 1.37% higher at ₹80.84, aiming to break a two-day losing streak. The stock had declined over 6% in the last 2 sessions.

Promoter Reduces Stake in HFCL

In a regulatory filing on March 27, HFCL reported that its promoter, MN Ventures Private Limited, sold shares on March 13, 21, and 24.

• MN Ventures initially held 29.08 crore shares (20.16%) in HFCL. 
• After selling 1.7 crore shares (1.18%), its stake reduced to 27.38 crore shares (18.98%). 

Major Public Shareholders in HFCL

As per HFCL’s shareholding pattern for Q3FY25 (December quarter):

• Quant Mutual Fund owns 8.30% (11.97 crore shares). 
• Reliance Ventures holds 1.57% (2.26 crore shares). 
• Reliance Strategic Business Ventures owns 3.36% (4.85 crore shares). 
• Foreign portfolio investors (FPIs) collectively hold 6.70% (9.66 crore shares). 

HFCL Share Price Performance

• Over the past year, HFCL shares have dropped nearly 12% (as of March 26). 
• The stock hit a 52-week low of ₹77.25 on March 3, 2025, after reaching a 52-week high of ₹171 on September 23, 2024. 
• In March, the stock is up nearly 2%, following 3 months of losses: 
  • December 2024: Down 13% 
  • January 2025: Down 13% 
  • February 2025: Down 19% 

Conclusion

Despite the promoter reducing its stake, HFCL shares rebounded, indicating investor confidence. The stock is attempting to recover after consecutive months of decline. Investors will closely watch market trends and future developments in the company.

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