Vishal Mega Mart shares inch higher as HDFC Mutual Fund raises stake to 5.94% in retail company

Vishal Mega Mart share price rose by 2.6% during Thursday's trading session following HDFC Mutual Fund's raised its stake in the retail company to 5.94%. Prior to this acquisition, HDFC Mutual Fund owned 2.71%, and on June 17, through various schemes, it acquired 15,00,00,456 shares, which accounts for 3.23%.

Recently, Samayat Services LLP, a promoter entity of the supermarket chain Vishal Mega Mart, sold a 19.6 percent stake in the company for ₹10,220.40 crore through transactions in the open market on Tuesday.

As per the bulk deal information on the National Stock Exchange (NSE), Samayat Services LLP divested a total of 90 crore shares in two transactions, representing a 19.58 percent stake in Gurugram-based Vishal Mega Mart.

The shares were sold between ₹113.51 and ₹113.61 each, bringing the total deal value to approximately ₹10,220.40 crore.

After the sale of the stake, Samayat Services LLP's ownership in Vishal Mega Mart (VMM) decreased from 74.55% to 54.97%.

In the meantime, SBI Mutual Fund (MF), Kotak Mahindra MF, and HDFC MF acquired shares of the supermarket chain.

SBI Mutual Fund acquired 16.58 crore shares, representing a 3.61% equity stake in Vishal Mega Mart, whereas Kotak Mahindra Mutual Fund purchased an additional 7.95 crore shares, which equates to a 1.73% ownership in VMM. HDFC Mutual Fund obtained 7.50 crore shares, amounting to a 1.63% shareholding in Vishal Mega Mart.

Vishal Mega Mart share price today

Vishal Mega Mart share price today opened at ₹799.35 apiece on the BSE, the stock touched an intraday high of ₹808 apiece and an intraday low of ₹795.05 per share.

Anshul Jain, Head of Research at Lakshmishree Investments said that Vishal Mega Mart share price has broken out of a weekly consolidation box between 117 and 96.7. The recent pullback has successfully retested the breakout zone, indicating strong structural integrity.

Post retest, bullish momentum is picking up again, suggesting renewed buying interest. With price now rebounding from a key support, the stock is expected to resume its uptrend. The immediate upside target is placed at 175, which aligns with the measured move projection of the box breakout pattern.

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