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Reliance Capital’s subsidiary increases its stake in HPCL to 5.02%

19 May 2011 Evaluate

Anil Ambani led Reliance Capital’s subsidiary -- Reliance Capital Trustee Company has increased its stake in state-run oil producing and marketing firm Hindustan Petroleum Corporation (HPCL) to 5.02% for over Rs 12.80 crore. The company purchased 3.17 lakh equity shares of HPCL in an open market transaction on May 6, 2011. Reliance Capital Trustee Co has acquired these equity shares for various schemes of Reliance Mutual Fund.

Pursuant to increasing this stake, the total holding of Reliance Capital Trustee Co in HPCL stands at 1.70 crore equity shares, representing 5.02% of the total paid up capital of the state-run oil producing and marketing firm. Prior to this acquisition, Reliance Capital Trustee Co owned over 1.67 crore shares, representing 4.93% of the total paid equity of HPCL. The company bought HPCL’s equity shares through Bric Securities and SBI Cap Securities from the two leading bourses.

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