Overseas investor Bank Muscat India Fund today purchased stakes in six companies, including LIC Housing Finance and M&M Financial Services, through various open market transactions worth a total of about Rs 172 crore.
Bank Muscat bought stakes in India Infoline, Lakshmi Overseas Industries, LIC Housing Finance, Mahindra & Mahindra Financial Services, DLF and Lakshmi Energy and Foods from Taib Securities Mauritius Ltd, while shares were sold in these companies by Taib Securities Mauritius.
As per the stock exchange data, Bank Muscat acquired 23,00,000 shares of LIC Housing Finance for Rs 244.50 apiece, valuing the deal at Rs 56.23 crore.
It also picked up 500,000 shares worth about Rs 35 crore in Mahindra & Mahindra Financial Services, and 1,400,000 shares of India Infoline (worth Rs 9.31 crore).
Besides, Bank Muscat also bought 5,00,000 equities of Lakshmi Overseas Industries for Rs 87.5 lakh, 600,000 shares of DLF for Rs 12.15 crore and shares worth Rs 87.5 lakh in Lakshmi Energy and Foods.
As of December quarter, Taib Securities Mauritius held 2.53% stake in India Infoline, 4.72% in Lakshmi Overseas Industries, 1.03% in M&M Financial Services and 2.42% stake in LIC Housing Finance.
Shares of Mahindra & Mahindra Financial Services surged by 2.3% to close at Rs 708 on the BSE, and LIC Housing Finance was up 2.18% to Rs 246.25
Lakshmi Overseas Industries jumped by 8.18% to Rs 17.85, India Infoline surged by 10.75% to close at Rs 72.65 apiece and DLF climbed 2.08% to Rs 203.7 on the bourse.
