This Article is From Jun 21, 2014

US-based AMC Unit Acquires Rs 122-Crore Shares in Unitech, 5 Others

US-based AMC Unit Acquires Rs 122-Crore Shares in Unitech, 5 Others
Mumbai:

MV SCIF Mauritius, part of US-based asset management company Van Eck Associates Corporation, on Friday picked up over 2 crore shares in six companies, including Unitech, Tata Elxsi, MTNL and Gitanjali Gems for an estimated amount of Rs 122.54 crore through open market route.

The entity also offloaded a total of 1.92 crore shares worth Rs 64.6 crore in Ashok Leyland, Spicejet and Punj Lloyd, according to bulk deal information with the bourses.

Individually, MV SCIF Mauritius purchased 1.75 crore shares in Unitech for nearly Rs 58 crore. The shares were bought for Rs 33.07 apiece.

Besides, it acquired shares in MTNL (24 lakh), Gitanjali Gems (4.97 lakh), Tata Elxi (3.29 lakh), Ceat Ltd (2.18 lakh), Natco Pharma (1.74 lakh).

In separate transactions, MV SCIF Mauritius sold 1.36 crore shares in Ashok Leyland for about Rs 44.50 crore.

It also offloaded 28.82 lakh and 27.13 lakh shares in Punj Lloyd and SpiceJet, respectively.

Van Eck Global offers investment choices in a broad range of asset classes, including commodities and natural resource equities, emerging market equities and debt.