HDFC Mutual Fund has increased its stake from 5.17% to 7.2% stake in Persistent Systems on December 16, 2019.

Persistent Systems is trading higher by 1.3% in trade today.

The shareholding of HDFC Mutual Fund in Persistent Systems Limited (the 'Company') along with Persons Acting in Concert (PAC), holding more than 5% has changed and the change exceeds 2% of the paid-up capital of the Company," as per filing on Tuesday post market hours.

“We refer to our letter dated October 17, 2019, wherein we had mentioned that as on October 16, 2019, the aggregate holding of the Schemes of HDFC Mutual Fund in "Persistent Systems Limited" ("the Company") was 5.17% of the paid-up equity share capital of the Company (Paid-up Equity Share Capital being Rs76.42 lakh comprising 76.42 equity shares of Rs10 each)."

“We wish to inform you that there has been an increase in the shareholding of the Company by the Schemes of HDFC Mutual Fund by 2.03% as of December 16, 2019. As on December 16, 2019, the aggregate holding of the Schemes of HDFC Mutual Fund in the Company is 7.20% of the paid-up equity share capital of the Company (Paid-up Equity Share Capital is Rs. 764,250,000/- comprising 76,425,000 Equity Shares of Rs. 10/- each),” the company added.

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