HDFC Mutual Fund (MF) has cut its stake in the Crompton Greaves Consumer Electricals (CGCEL) by 2.01% to 7.20 percent by sales of shares worth 168 crore in the open market. Before the transaction, the schemes of HDFC MF held 5.78 crore amounting to 9.22% stake which has been brought down to 4.51 crore shares after the open market sale.
CGCEL was listed on BSE in May after being demerged from the parent firm Crompton Greaves.