Pitti Engineering Limited
HSBC Mutual Fund increased its stake in Pitti Engineering from 2.00% to 2.43%, raising its shareholding from 752,707 to 913,144 shares. The value of the additional shares is approximately ₹15.17 crore, based on the current share price of ₹943.65.
A manufacturer of electrical steel laminations, motor cores, and die-cast rotors for industrial applications. Pitti Engg. produces sub-assemblies, press tools, and precision-machined metal components serving the automotive, electrical equipment, and industrial machinery sectors. The company operates vertically integrated manufacturing facilities with capabilities in casting, machining, and assembly operations, serving domestic and export markets.
Indian arm of HSBC Asset Management, the investment arm of HSBC Group with over USD 600 billion in global AUM. Manages over Rs 1 lakh crore in India across equity, debt and hybrid schemes. Previously known for integration of L&T Mutual Fund schemes after acquiring it from L&T Finance in 2022, which significantly expanded the franchise.