HDFC Mutual Fund and Fidelity India Fund have bought a combined 1.64 million shares representing 4.25% stake in Apar Industries for Rs 71.50 crore through open market. On November 16, 2015, HDFC Mutual Fund Bought 900,000 shares of the company through it’s various schemes at price of Rs 436 per share on NSE, while Fidelity India Fund purchased 735,387 shares of the company at Rs 436 a piece on BSE. Meanwhile, AIL Benefit Trust, the promoter of the company, has sold 1.64 million shares via bulk deals.
Apar Industries primarily operates in two segments i.e. transmission & distribution overhead conductors and transformer and specialty oils (TSO). It is the second-largest manufacturer of power conductors in India. The company is also engaged in the manufacture of electrical and telecom cables.
