Nomura Singapore has acquired around 1% stake in the Mumbai-based real estate firm Housing Development & Infrastructure (HDIL) through an open market transaction. On April 4, the brokerage house has purchased 4.41 million equity shares, representing 1.05% stake in the company, at Rs 67.45 per share via a block deal.
Recently, Kotak Securities purchased 21,28,000 shares of HDIL through the open market route. The shares were bought at an average price of Rs 51.56 on National Stock Exchange (NSE) on March 27, 2014.
HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).
