New Delhi: HDFC Mutual Fund has reduced its stake in fast moving consumer goods (FMCG) firm Procter & Gamble Hygiene & Health Care Ltd (P&G) by 2.01% by selling 6.52 lakh shares for 429 crore in the open market.

HDFC Mutual Fund, which had 5.07% stake earlier, brought down its shareholding in the company to 3.06%, P&G said in a filing to the BSE. The shares were offloaded on 6 July, 2015 and based on the closing stock price of 6,580.75, the transaction is estimated to have been valued at 429.27 crore.

Procter & Gamble shares on Tuesday closed 1.59% up at 6,685.40 apiece on the BSE.

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