Damani buys TajGVK shares for 7.6 cr from Derive Trading

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SummaryShares of TajGVK were acquired at an average price of Rs 54.6 apiece.

Damani Estates & Finance today picked up 14 lakh shares of TajGVK Hotels & Resorts in a transaction worth over Rs 7 crore.

As per the block deal details with the bourses, Damani Estates has bought the shares of TajGVK from Derive Trading. Shares of TajGVK were acquired at an average price of Rs 54.6 apiece, valuing the transaction at Rs 7.64 crore.

Meanwhile, in a separate bulk deal, foreign fund house Swiss Finance Corporation (Mauritius) purchased nearly three lakh shares of Tata Elxsi for an estimated Rs 5.13 crore. Swiss Finance acquired 2,99,999 shares for Rs 171 apiece, through open market transactions. Separately, HDFC Mutual Fund offloaded 2,99,290 shares of Tata Elxsi for little over Rs five crore.

As on quarter ended June 30, HDFC Trustee Company Ltd - HDFC Prudence Fund, held 5.11 lakh shares of Tata Elxsi representing 1.64 per cent shareholding in the company.

TAJGVK Hotels & Resorts is a joint venture between the Indian Hotels Company Ltd (IHCL) and the Hyderabad based GVK Group. IHCL is a Tata Group enterprise.

Tata Elxsi is the visual effects and animation arm of the diversified Tata Group. The company had reported over three- fold rise in its consolidated net profit at Rs 8.92 crore for the first quarter ended June 30, 2013.

On the BSE, TajGVK shares declined marginally by 0.36 per cent to settle at Rs 54.75 apiece, while Tata Elxsi scrip rose by 2.68 per cent to end the day at Rs 170.75 apiece.

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