New Delhi, May 28 -- India's third biggest mutual fund house further reduced its stake in the Mahindra group company - Mahindra Holidays & Resorts - to 5.13%.

The hotel company stock, down 10% in the last one year, has seen a significant reduction in the stake held by HDFC Mutual Fund over the last seven years. From a 7.34% stake owned by the fund house, the figure has declined to 5.13% currently, signalling a 221 bps change.

HDFC Mutual Fund owns this Mahindra Group stock through its various schemes. In an exchange filing, dated May 27, it informed about the sale of 16,18,545 shares of Mahindra Holidays & Resorts, representing a 0.80% stake. The stake sale was carried out on May 23. The stock was sold via the open market, the mutual fu...