HSBC Mutual Fund increased its stake in Bharat Bijlee Limited from 4.02% to 4.53%, acquiring 58,301 shares. The approximate value of these additional shares is ₹15.54 crore, based on a share price of ₹2668.20.
An electrical engineering company established in 1946, Bharat Bijlee manufactures transformers, electric motors, elevator systems, drives, and automation equipment for industrial and infrastructure applications. The company also provides comprehensive turnkey solutions for EHV switchyards, HV and MV substations, and electrical balance of plant systems. It serves as a diversified provider of electrical infrastructure and equipment across India's power and industrial sectors.
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.