Home First Finance gains after Smallcap World Fund, Fidelity Global pick up stakes

The combined stake purchase of Smallcap World Fund Inc and Fidelity Global Investment Fund Asia Pacific Equity Fund was 3.2 percent.

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Shares of Home First Finance Company India traded 1.34 percent higher, a day after Smallcap World Fund and Fidelity Global Investment Fund picked up 3.2 percent stake in the company, while  promoters offloaded 6.54 percent stake. At 9:50am, the stock was trading at Rs 888.95.

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As per exchange bulk deals data, Smallcap World Fund Inc bought 23.95 lakh equity shares in Home First Finance Company India through open market transactions at an average price of Rs 870.50 per share. Fidelity Global Investment Fund Asia Pacific Equity Fund also purchased 4.76 lakh shares at an average price of Rs 870 per share. The combined stake purchased was  3.2 percent.

On the other hand, its Indian promoter True North Fund V LLP offloaded 17.88 lakh shares at an average price of Rs 871.13 per share, and 16.72 lakh shares at an average of Rs 870.40 each, which is equivalent to 3.92 percent of its total paid-up equity. Foreign promoter Aether Mauritius also sold 11.92 lakh shares or 2.61 percent of paid-up equity.

Also read: Three entities sell Home First Finance shares for Rs 753 crore

Housing finance company Home First Finance provides affordable loans under home loan, loan against property and home construction loan categories.

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