India's HDFC says raises stake in unit by 9.9 pct

MUMBAI, Oct 8 (Reuters) - Housing Development Finance Corp Ltd (HDFC.BO: Quote, Profile, Research), India's leading mortgage lender, said on Monday it had bought a further 9.9 percent stake in an asset management subsidiary from partner Standard Life Investments for 1.8 billion rupees ($46 million).

After the purchase, HDFC's holding in HDFC Asset Management Co has gone up to 60 percent, with Standard Life owning the remainder, the Indian firm said in a statement. ($1=39.5 rupees)