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 0.06 per cent stake in the company before the transaction held on July 24 through open market on the BSE and NSE, Gammon India said in a regulatory filing today.

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

The company's promoters held 34.99 per cent stake in Gammon India as on June-end. The company scrip closed at Rs 28, down 1.58 per cent, on the BSE.