Credo India buys 52 lakh shares of Gulf Oil Corp for Rs 43 crore

MUMBAI: Credo India Thematic Fund today acquired 52.20 lakh shares of Gulf Oil Corporation from two entities in a deal worth Rs 43.59 crore.

As per the block deal data available with the National Stock Exchange, Credo India Thematic Fund bought around 35 lakh shares of the Hinduja Group firm from Aasia Exports.

It purchased another 17.10 lakh shares of the company from Aasia Management and Consultancy.

The shares were acquired at an average price of Rs 83.5 apiece valuing the deal at Rs 43.59 crore, the data showed.

At the end of September quarter, Aasia Management and Consultancy held nearly 62.68 lakh shares representing over 6 per cent stake in Gulf Oil Corporation.

Last week, Credo India Thematic Fund had acquired 45.89 lakh shares of Gulf Oil Corporation from Hinduja Estate Developers in a deal worth nearly Rs 40 crore.

Shares of Gulf Oil Corporation were up 1.31 percent to settle at Rs 84.90 apiece, on the BSE.