HSBC Global sells 3 pc stake in Mahindra Ugine for Rs 2 cr

Foreign fund HSBC Global Investment on Friday sold over three per cent stake in Mahindra Ugine Steel Company for Rs two crore in open market transactions.

HSBC Global Investment Funds Mauritius sold 10 lakh shares of Mahindra Ugine at a price of Rs 20 each in a block deal on the Bombay Stock Exchange.
    
As on December, 2008, HSBC Global held 7.13 per cent stake in the Mahindra & Mahindra group firm.
    
In a separate deal on the exchange, Girdharilal Agarwal purchased 10 lakh shares of Mahindra Ugine at the same price.
    
Shares of Mahindra Ugine on Friday dropped 3.75 per cent to close at Rs 19.25 on the BSE.