Motilal Oswal MF Acquires Coforge Shares for Rs 231 Crore
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Motilal Oswal Mutual Fund has bought additional shares of Coforge worth Rs 231 crore through an open market transaction. The purchase increased its stake in the IT company to 8.58%.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Apr 17 (PTI) Motilal Oswal Mutual Fund (MF) on Thursday acquired additional shares of IT firm Coforge worth Rs 231 crore through an open market transaction.
According to the bulk deal data available on the NSE, Motilal Oswal MF purchased 3.5 lakh shares or 0.52 per cent stake in Greater Noida-based Coforge.
The shares were acquired at an average price of Rs 6,605.13 apiece, taking the transaction value to Rs 231.18 crore.
After the latest transaction, Motilal Oswal MF's equity stake in Coforge rose to 8.58 per cent from 8.06 per cent.
Details of the seller(s) of Coforge's shares could not be ascertained on the National Stock Exchange (NSE).
The scrip of Coforge on Thursday climbed 3.78 per cent to close at Rs 6,650 per piece on the NSE.
On Thursday, Coforge said its wholly-owned subsidiary Coforge Technologies Australia has completed the acquisition of TMLabs from its shareholders in accordance with the share sale agreement.
According to the bulk deal data available on the NSE, Motilal Oswal MF purchased 3.5 lakh shares or 0.52 per cent stake in Greater Noida-based Coforge.
The shares were acquired at an average price of Rs 6,605.13 apiece, taking the transaction value to Rs 231.18 crore.
After the latest transaction, Motilal Oswal MF's equity stake in Coforge rose to 8.58 per cent from 8.06 per cent.
Details of the seller(s) of Coforge's shares could not be ascertained on the National Stock Exchange (NSE).
The scrip of Coforge on Thursday climbed 3.78 per cent to close at Rs 6,650 per piece on the NSE.
On Thursday, Coforge said its wholly-owned subsidiary Coforge Technologies Australia has completed the acquisition of TMLabs from its shareholders in accordance with the share sale agreement.
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