European fund manager buys Gail,PowerGrid shares worth Rs 22cr

European fund manager Comgest today picked up 12.78 lakh shares of two companies -- Gail India and Power Grid Corp -- for an estimated Rs 22 crore through the open market transactions.
The fund manager bought shares from DB International (Asia) Ltd.
According to block deal data available with stock exchanges, Comgest Growth Asia Ex-Japan bought 4.01 lakh shares of Gail India for Rs 346 apiece valuing the transaction at Rs 13.87 crore.
Besides, Comgest purchased 8.77 lakh scrips of Power Grid Corp for Rs 97.2 per share aggregating the transaction size at Rs 8.52 crore.
Yesterday, Comgest bought three lakh scrips of Gail India for Rs 10.38 crore, while it also picked up 10 lakh scrips of Power Grid for Rs 9.72 crore.

At the BSE, Gail India shares rose 0.07 per cent to settle at Rs 345.50 apiece and the Power Grid counter grew by 0.71 per cent to close at Rs 97.30 apiece on the bourse.