Fidelity Investments buys 2 pc stake in Lodha Developers for Rs 1,864 crore

Fidelity Investments has strategically acquired a 2% stake in Lodha Developers, amounting to Rs 1,864 crore, through open market operations. The acquisition involves nearly 2 crore shares purchased from promoter entities Hightown Constructions and Homecraft Developers, resulting in a reduction of the promoter group's shareholding to 70.28%. Notably, Lodha Developers has recently reported a remarkable 9% increase in net profit for the March quarter, attributed to heightened income levels.

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