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SBI Mutual Fund lowers its stake in McDowell

SBI Mutual Fund has lowered its stake by 3 percent in Vijay Mallya-led McDowell Holdings to 5.77 percent.

McDowell Holdings said in a filing to BSE that SBI Mutual Fund, which had 8.77 percent earlier, brought down its shareholding in the company to 5.77 percent.

On July 8, SBI MF sold 4.22 lakh shares of the company and on basis of the closing stock price of Rs 33.75, the transaction is estimated to have been valued at Rs 1.41 crore.

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