JP Morgan Funds buys TCS shares worth Rs 247 cr via open market transaction

JP Morgan Funds on Monday bought Tata Consultancy Services (TCS) shares worth nearly Rs 247 crore through open market transaction.

The block deal data on BSE showed that JP Morgan Funds bought over 11.23 lakh shares of TCS at an average price of Rs 2,199 apiece, and the total deal value stood at Rs 246.98 crore.

The shares were sold by Flagship India Investment Company (Mauritius) Ltd at the same price in a separate transaction.

Shares of TCS on Monday closed 2.91 per cent higher at Rs 2,263.1 on the BSE.

Meanwhile, JP Morgan Funds also bought shares of Cummins India Ltd and Gujarat Pipavav Port Ltd.

The shares of both the firms were offloaded by Flagship India Investment Company (Mauritius).

Over 4.1 lakh shares of Cummins India were purchased by JP Morgan Funds at Rs 410.7 each, valuing the transaction at Rs 16.84 crore, while a little over 30 lakh shares of Gujarat Pipavav Port were picked up at a price of Rs 77.85 per share, taking the total deal value to Rs 23.5 crore.

Shares of Cummins India closed with a gain of 4.94 per cent at Rs 431 apiece on the BSE, and that of Gujarat Pipavav Port closed 1.61 per cent higher at Rs 79.1.