Standard Life sells 5% stake in HDFC MF

Standard Life Investments on Wednesday offloaded 5 per cent stake in HDFC Mutual Fund. It sold 10.65 million shares at ~2,873.8 apiece for a total of ~3,061 crore, data provided by BSE showed. T Rowe Price Emerging Markets Stock Fund picked up about 1.52 million shares for ~436 crore. Shares of HDFC MF fell 5.6 per cent to close at ~2,905.