MUMBAI: Housing Development and Infrastructure (HDIL) is trading higher by 2% at Rs 77.20 in an otherwise weak market after Credit Suisse (Singapore) bought over 2 million shares of the Mumbai-based real estate developer for Rs 16 crore through an open market transaction.
On April 10, 2014, Credit Suisse (Singapore) acquired 2.14 million shares at Rs 73.81 per share, the NSE bulk deal data shows.
The stock opened at Rs 75.20 and touched a high of Rs 77.90 on the NSE. Till 1000 hours, a combined 7.45 million shares changed hands on the counter on the NSE and BSE.
Meanwhile, since March 26, the stock has rallied 55% from Rs 49.70 after foreign and local brokerage firms acquired nearly 7 million shares via open market.
On March 27, Kotak Securities purchased 2.13 million shares of the real estate firm, constituting 0.5% stake at Rs 51.56 per share.
On April 4, Nomura Singapore Limited purchased 4.41 million equity shares, representing 1.05% stake in the company, at Rs 67.45 per share via a block deal, the NSE data shows.