Suprajit Engineering shares soar after HDFC Mutual Fund raises stake in auto parts maker

Suprajit Engineering shares zoomed on Thursday, continuing to rise for a second straight session, after HDFC Mutual Fund raised stake in the auto component manufacturer. The stock of Suprajit Engineering gained by as much as Rs 37.3, or 10 per cent, to Rs 409 apiece on BSE to trade within Rs 38 of a 52-week high scaled in July.

At 10:09 amof Suprajit Engineering shares held on to much of its intraday gains, stronger by Rs 31.7, or 8.5 per cent, for the day at Rs 403.5 apiece on the bourse.

HDFC Mutual Fund (PAC) bought 29.20 lakh shares in Suprajit Engineering through the open market, raising its stake by 2.02 per cent to 7.03 per cent, as of December 22, according to a regulatory filing.

"We wish to inform you that the shareholding of the Fund increased by 2.02 per cent as compared to the previous disclosure made vide letter dated April 16, 2020," the filing read. As of December 22, 2023, the aggregate holding of the Schemes of HDFC Mutual Fund in the Company is 7.03 per cent of the paid-up equity share capital of the company, it added.

HDFC Mutual Fund, HDFC Trustee Company Limited A/c, HDFC Multi Cap Fund, HDFC Retirement Savings Fund - Hybrid-Equity Plan, HDFC Nifty Smallcap 250 ETF, HDFC Nifty Smallcap 250 Index Fund, HDFC Small Cap Fund, and HDFC Transportation and Logistics Fund were the acquirers.

Earlier, HDFC Mutual Fund held a 5.015 per cent stake in the company. 

"we had mentioned that as on April 15, 2020, the aggregate holding of the Schemes of HDFC Mutual Fund in "SUPRAJIT ENGINEERING LTD" ("The Company") was 5.015 per cent of the paid-up equity share capital of the Company (Paid up Equity Share Capital being Rs. 139,872,473/- comprising 139,872,473 Equity Shares of Rs. 1/- each)," the filing read. 

Suprajit Engineering share price: Past performance 

Suprajit Engineering shares are on track to finish 2023 with a gain of more than 21 per cent, in line with a 19 per cent rise in the headline Nifty50 index.

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