Kotak Mahindra hikes stake in HMVL, buys shares worth Rs 46-cr

Kotak Mahindra (International) today hiked its stake by 2.38 per cent in media firm Hindustan Media Ventures Ltd (HMVL) for Rs 46.37 crore through an open market transaction.
According to the bulk deal data available with NSE, Kotak Mahindra (International) bought 17,50,000 shares or 2.38 per cent stake in the company for Rs 46.37 crore.
The shares were acquired at an average price of Rs 265 per piece.
As of December 31, 2015 Kotak Mahindra (International) held 3.40 per cent stake in the firm.
Meanwhile in a separate deal, Mauritius-based Lavender Investments Ltd also hiked its stake in the media company.

Lavender Investments acquired 1.97 per cent stake in HMVL for Rs 38.42 crore.

At the end of third quarter of the ongoing fiscal Lavender held 2.18 per cent stake in the company.
The shares were sold by two funds of Reliance MF.
While, Reliance Equity Opportunities Fund offloaded 3.81 per cent stake in the company for Rs 74.20 crore, 0.54 per cent stake was sold by Reliance Regular Saving Fund - Balanced Option for Rs 10.60 crore.
Hindustan Media Ventures is the publisher of Hindi daily Hindustan.