HFCL share price rises over 2% despite promoter trimming stake in telecom infrastructure provider firm; details here

HFCL share price climbed over 2 per cent in intraday trade on BSE on Thursday, March 27, even as promoters reduced their stake in the telecom infrastructure provider firm. HFCL share price opened at ₹79.77 against its previous close of ₹79.75 and rose over 2 per cent to an intraday high of ₹81.43. Around 11:50 AM, the stock traded 1.37 per cent higher at ₹80.84, looking set to snap its two-day losing run. In the last two sessions, the stock suffered a cumulative loss of over 6 per cent.

HFCL promoter trims stake

In an exchange filing on March 27, HFCL announced that promoter MN Ventures Private Limited sold some of its stakes in the company on March 13, 21 and 24 this year.

MN Ventures held 29,08,65,000 shares, or 20.16 per cent stake, in the company which reduced to 27,38,65,000 shares, or 18.98 per cent stake, as the promoter group sold 1,70,00,000 shares, or 1.18 per cent stake, of HFCL.

HFCL's top public shareholders

According to December quarter (Q3FY25) shareholding pattern data, Quant Mutual Fund held 11,97,21,651 shares, or 8.30 per cent stake, in the company.

Reliance Ventures held 2,26,81,422 shares, or 1.57 per cent stake in the company. Besides, Reliance Strategic Business Ventures held 4,85,32,764 shares, or 3.36 per cent, stake in the firm by the end of Q3FY25.

Foreign portfolio investors cumulatively held 9,66,75,358 shares, equivalent to a 6.70 per cent stake in the company.

HFCL share price trend

Over the last year, HFCL shares have dropped nearly 12 per cent, as of March 26 close. HFCL share price hit a 52-week low of ₹77.25 on March 3 this year after hitting a 52-week high of ₹171 on September 23 last year.

On a monthly scale, the stock is up nearly 2 per cent in March after three consecutive months of losses. The stock plunged 13 per cent each in December 2024 and January 2025, followed by a steeper 19 per cent fall in February.

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