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%. The 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.
Recently, Bajaj Allianz Life Insurance Company bought 15 lakh shares of Gammon India through open market route. The shares were purchased on an average price of Rs 27.30 valuing the transaction to Rs 40.95 crore.
Gammon India provides engineering services and construction of services. It operates in plan, design and undertakes construction of roads, highways, bridges and other projects.