Foreign investor Merrill Lynch has hiked its stake in the real estate developer Housing Development & Infrastructure (HDIL) through the open market. Merrill Lynch Capital Markets Espana S.A.SVB has bought an additional 5.81 million shares representing 1.4% stake in the company at price of Rs 115.26 per share on the NSE.
As of December 31, 2014, Merrill Lynch Capital Markets Espana held 5.01% stake in HDIL.
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).
