Credit Suisse Singapore sells 2.36% stake in HDIL

Credit Suisse Singapore sells 2.36% stake in HDIL New Delhi: Credit Suisse (Singapore) Ltd has sold nearly one crore shares, equivalent to 2.36 percent stake, in the Housing Development and Infrastructure Ltd (HDIL) through open market transactions.

In a filing to the BSE, HDIL said that Credit Suisse Singapore has sold 30,15,356 shares in the Mumbai-based firm between November 23, 2012 and January 23, 2013. It further sold 69,11,723 shares in HDIL on January 24, the filing added.

Credit Suisse (Singapore) has sold a total of 99,27,079 shares in HDIL. After these transactions, its stake in HDIL has reduced to 2.67 percent from 5.04 percent as on November 22, 2012.

HDIL share prices Tuesday declined by nearly four percent at Rs 80.40 on BSE.

On January 22, HDIL promoter and Vice Chairman and Managing Director Sarang Wadhawan has sold 50 lakh shares for about Rs 57 crore through stock market. Post this transaction, the stake of Sarang Wadhawan has come down to 0.99 percent from 2.19 percent.

This development had led to HDIL share price falling by 14 percent on January 23 and 22 percent on January 24.

Promoters held 37.36 percent stake in HDIL as on December 31, 2012.

PTI