HDFC Mutual Fund hikes stake in Gammon India to 6.31%

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%.

HDFC Mutual fund had 82,799 shares amounting to 0.06% 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% stake was done at an average price of Rs 27.38 per share.

The company's promoters held 34.99% stake in Gammon India as on June-end.

The company scrip closed at Rs 28, down 1.58%, on the BSE.