Axis Mutual Fund trims stake in PI Industries. Details here | Stock Market News

Axis Mutual Fund has reduced its shareholding in chemicals company PI Industries, a stock exchange filing showed. PI Industries were trading marginally lower on Friday.

Axis Mutual Fund has sold 0.05% stake in PI Industries on January 8, trimming its stake in the company to 2.97% from 3.02% earlier.

“Axis Mutual Fund has disposed 0.05% equity shares of Pl Industries Limited (Target Company) on January 08, 2025, thereby reducing the holding to 2.97% of equity share capital. The said disposal results in equal to or more than 2% of equity share capital disposal by schemes of Axis Mutual Fund since last reporting,” a regulatory filing said.

As per the filing, Axis Focused Fund has sold 69,126 shares of Pl Industries Ltd. Further, Axis Nifty 500 Index Fund has bought 06 shares respectively. These transactions have resulted in net disposal of 69,120 shares by Axis Mutual Fund.

The transaction has been made through the open market mode.

Axis Mutual Fund held 45,77,978 shares, or 3.02%, stake in PI Industries. It offloaded a net 69,120 shares, or 0.05%, stake in PI Industries on January 8. The fund house now holds 45,08,858 shares, or 2.97% stake in PI Industries.

Axis Asset Management Company Limited (Axis AMC) is the Investment Manager of Axis Mutual Fund.

Pl Industries Stock Price Trend

Pl Industries share price has been on sharp downtrend recently as the stock has fallen over 11% in one month and more than 20% in three months. In the past one year, PI Industries shares have given modest return of 5%, while the stock is up 11% in two years.

At 12:15 PM, PI Industries shares were trading 0.44% lower at ₹3,645.00 apiece on the BSE, commanding a market capitalisation of ₹55,301 crore.

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