Reliance Cap's subsidiary hikes stake in HPCL to 5 pc for Rs 12.8cr

MUMBAI: Reliance Capital Trustee Company, a subsidiary of Anil Dhirubhai Group's Reliance Capital Ltd increased its stake in state-run oil producing and marketing firm Hindustan Petroleum Corporation Ltd (HPCL) to 5.02 per cent for over Rs 12.80 crore.

According to data available on the Bombay Stock Exchange, Reliance Capital Trustee Company purchased 3.17 lakh equity shares of HPCL in an open market transaction.

Reliance Capital Trustee Co has acquired these equity shares for various schemes of Reliance Mutual Fund, it said.

Total holding of Reliance Capital Trustee Co in HPCL stood increased to 1.70 crore equity shares, representing 5.02 per cent of the total paid up capital of the state-run oil producing and marketing firm.

Prior to this latest acquisition, Reliance Capital Trustee Co owned over 1.67 crore shares, representing 4.93 per cent of the total paid equity of HPCL.

Reliance Capital Trustee Co carried out the transaction on May 6, it said.

Reliance Capital's subsidiary bought HPCL equity shares through Bric Securities Ltd and SBI Cap Securities Ltd from the two leading bourses, it said.

Shares of HPCL closed at Rs 357.90, down 4.41 per cent from the previous close on the BSE.