Morgan Stanley, WhiteOak, Tata MF, ADIA among 11 investors pick up entire 1.92% stake of NIIF in Ather Energy via block deals

Top Buy Ideas for February 12

• Morgan Stanley, WhiteOak, Tata MF, ADIA among 11 investors pick up entire 1.92% stake of NIIF in Ather Energy via block deals
• TIAA-CREF Funds sells 1.78% stake in Sterlite Technologies for Rs 126.4 crore

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Morgan Stanley, WhiteOak, Tata MF, and Abu Dhabi Investment Authority among 11 domestic and global investors acquired entire 1.92 percent stake of National Investment and Infrastructure Fund II (NIIF) in Ather Energy, the electric scooter maker, via block deals on February 11.

Ather Energy shares fell 1.55 percent to close Rs 716.25 on the NSE.

Government of India, and institutional investors-managed National Investment and Infrastructure Fund-II exited Ather Energy by selling its entire 73.33 lakh shares (equivalent to 1.92 percent of paid-up equity) for Rs 330.6 crore on the BSE and NSE.

However, total 11 domestic and global investors - ICICI Prudential Mutual Fund, Tata Mutual Fund, Morgan Stanley Asia Singapore, Aditya Birla Sun Life MF, WhiteOak Capital MF, Goldman Sachs Bank Europe, ABU Dhabi Investment Authority, Invesco MF, Motilal Oswal MF, Societe Generale, and Tata AIG Life Insurance Company - were buyers for the 1.92 percent stake. The transaction has taken place at a price of Rs 710 per share.

Tata AIG Life Insurance Company was the biggest buyer amongst them, picking up 13.77 lakh shares for Rs 97.8 crore, followed by ICICI Prudential Mutual Fund which bought 11.26 lakh shares worth Rs 80 crore.

Tata Mutual Fund, Aditya Birla Sun Life MF, Invesco MF, and Motilal Oswal MF each acquired 7.04 lakh shares for Rs 50 crore.

Meanwhile, TIAA-CREF Funds TIAA CREF Emerging Markets Equity Index Fund, managed by Teachers Advisors (an affiliate of Nuveen), sold 87.3 lakh shares (1.78 percent stake) in Sterlite Technologies at Rs 144.81 per share, amounting to Rs 126.4 crore. Perhaps, the stock might have reacted to the stake sale, falling 8.75 percent to Rs 143.7.

New Berry Advisors has acquired 10 lakh shares in Bodhi Tree Multimedia at Rs 7.62 per share for Rs 76.2 lakh, from Team India Managers.