Reliance Mutual fund picks up 3% in Air Deccan

Low cost airlines seem to be the flavour of the season for large corporate groups looking for financial investment. Just a day after the Tata group investment companies picking up 7.5% in the Delhi-based SpiceJet, it now turns out that the Anil Ambani group company Reliance Mutual fund has been slowly building up a position in the original price-warrior Air Deccan.

Reliance Vision, a mutual fund scheme under the Reliance Mutual fund umbrella has acquired a 3.5% stake in Air Deccan. A Reliance capital spokesperson said the stake has been acquired over the past few months purely as a mutual fund play, one amongst many in the mutual fund portfolio.

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