Reliance MF hikes stake in Madras Cements, India

Reliance Mutual Fund has increased its stake in India-based producer Madras Cements to just over five per cent with the acquisition of 90,000 shares.

With this acquisition on 14 June, the Chennai-based cement maker said the fund house's holding in the company now stands at 5.01 per cent, or 1.193 crore shares, according to a Bombay Stock Exchange filing by Madras Cements.

Reliance Mutual Fund is a part of Reliance Capital, the financial services arm of Anil Ambani Group.

(Source: Press Trust of India)