GMO-controlled funds -- GMO Emerging Markets and GMO Emerging Domestic Funds -- have bought 3.01 lakh and 11.78 lakh shares respectively in cable manufacturer CMI. These shares were bought at an average price of Rs 304 a share.
GMO run by the legendary Jeremy Grantham is a global investment management firm managing around $112 billion in client assets, while CMI was initially engaged in Copper Metal Trade and Copper melting and rod casting and later diversified into cable business.