JP Morgan Funds on Monday purchased shares of Housing Development Finance Corp Ltd (HDFC) worth Rs 288 crore through an open market transaction. The shares were sold by Flagship India Investment Company (Mauritius) Ltd, block deal data on BSE showed.
As per the data, JP Morgan Funds bought over 16.28 lakh shares of HDFC at an average price of Rs 1768.2 apiece. At this price, the value of transaction stood at Rs 287.97 crore. In addition, JP Morgan Funds also bought 1.26 lakh shares of UltraTech Cement at Rs 3,896.9 apiece.This took the total deal value to Rs 49.3 crore.
The shares were offloaded by Flagship Indian Investment Company (Mauritius) Ltd. HDFC stock closed 1.75 per cent lower at Rs 1,737.30 on BSE, while that of UltraTech Cement settled with a gain of 0.36 per cent at Rs 3,910.90.