Ashoka Buildcon shares hit record high; GMO raising bets on midcap infra

Reuters Market Eye - Shares in Ashoka Buildcon Ltd surge as much as 14.7 percent to a record high of 152 rupees after U.S.-based global investment management firm GMO bought 1.5 million shares in the company on Thursday in a transaction estimated at about 183 million rupees ($3.13 million).

GMO Emerging Domestic Opportunities Fund bought the shares at an average price of 122 rupees per share in a block deal, NSE data shows.

On Monday, GMO bought about half a million shares in J Kumar Infraprojects , another midcap infrastructure company.

Ashoka Buildcon shares up 9.85 percent at 145.50 rupees as of 11:09 a.m.

 

(Reporting by Abhishek Vishnoi)