Housing Development and Infrastructure Ltd (HDIL) is one of the premier real estate development companies in India and is actively pursuing on the development of real estate and slum rehabilitation projects in Mumbai Metropolitan region. The company is engaged in the business of real estate development and construction of residential and commercial properties, infrastructure facilities and all other related activities. They are also engaged in slum rehabilitation projects in Mumbai Metropolitan region. They have also diversified into energy, hospitality and the development of SEZs.
Merrill Lynch Capital Markets reduced their holding by 2,285,828 shares or 0.54% valued at Rs. 20 Cr. With this sale their new reduced stake stands at 12,228,824 shares or 4%.
This is not the first stake sale by Merrill Lynch. In the month of February, the firm sold 0.27% or 1,164,000 shares.
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