HDFC Mutual Fund Hikes Stake in Gammon India to 6.31 Per Cent

New Delhi: HDFC Mutual Fund has bought more than 85 lakh shares in Gammon India for Rs 23.35 crore , taking its holding in the infrastructure firm to 6.31 per cent.

 

HDFC Mutual fund had 82,799 shares, amounting to a 0.06 per cent stake, in the company before the transaction held on July 24 through open market on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), Gammon India said in a regulatory filing on Monday.

 

The fresh purchase of 85,30,764 shares aggregating a 6.25 per cent stake was carried out at an average price of Rs 27.38 per share.

 

The company's promoters held a 34.99 per cent stake in Gammon India as of June-end.

 

Gammon India shares, on Monday, ended at Rs 28 on the BSE, down 1.58 per cent from the previous close.