HDFC Mutual Fund (MF) has picked up 1 percent stake in Vardhman Textiles for over Rs 71 crore through an open market transaction. The fund house has bought 5.73 lakh shares, amounting to 0.99 percent stake in the company. The shares were purchased at a price of Rs 1,245 apiece, valuing the transaction at Rs 71.34 crore.
Vardhman Textiles, incorporated in 1973, is one of the pioneers in textile industry with operations in the segments of yarn, sewing thread, steel, and fabric.