Sona India Investments has acquired 0.4-1.7 percent stake in eClerx Services, Force Motors, Triveni Engineering, and Excel Industries, and Tamil Nadu Newsprint from US-based hedge fund Point Break Capital via open market transactions on January 28.
eClerx Services shares gained 0.3 percent to Rs 4,422.7, and Force Motors rose 0.59 percent to Rs 18,895, while Triveni Engineering shares rallied 3.06 percent to Rs 358.55, and Excel Industries advanced 0.06 percent to Rs 904.8. Tamil Nadu Newsprint and Papers was the biggest gainer among these stocks, soaring 7.22 percent to Rs 140.23 amid high volumes on the NSE.
US-based Sona India Investments has bought 2.09 lakh shares (0.44 percent of paid-up equity) in IT firm eClerx Services at Rs 4,409.7 per share from Point Break Capital, valued at Rs 92.5 crore, while Sona India Investments and Point Break Capital exchanged 85,146 shares (0.64 percent stake) of automobile company Force Motors at Rs 18,785 per share, amounting to Rs 159.94 crore.
Further, Sona India Investments also picked up 19.53 lakh shares (0.89 percent stake) in diversified conglomerate Triveni Engineering & Industries at Rs 347.9 per share for Rs 67.95 crore from Point Break Capital, while there was an exchange of Excel Industries' 72,000 shares (0.57 percent) between Sona India Investments, and Point Break Capital for Rs 6.5 crore.
Point Break Capital exited Tamil Nadu Newsprint and Papers by selling entire shareholding of 12 lakh shares (1.73 percent stake) at Rs 133 per share for Rs 15.96 crore, however, of which, Sona India Investments bought 11.6 lakh shares (1.67 percent stake) at Rs 133.61 per share for Rs 15.51 crore.
Meanwhile, also there was action in Landmark Cars, the premier automobile retailer, which climbed 4 percent to Rs 398.65 amid high volumes. Government Pension Fund Global managed by Norges Bank has bought 5.26 lakh shares (1.26 percent stake) in Landmark Cars at Rs 402.06 per share for Rs 21.15 crore.
However, Bajaj Finserv Mutual Fund sold 4.35 lakh shares in Landmark Cars at Rs 401.5 per share for Rs 17.49 crore and Dhunseri Ventures offloaded 2.7 lakh shares at Rs 401.53 per share for Rs 10.87 crore, totalling to 1.7 percent.
Gretex Corporate Services shares remained rangebound for more than a week now, rising 0.97 percent to Rs 302 despite Talent Investment Company sold 1.65 lakh shares at Rs 302.73 per share for Rs 5.01 crore.
Perhaps, Bharat Wire Ropes shares may have reacted to the stake acquisition by Resonance Opportunities Fund, rising 4.27 percent to Rs 174.4 on the NSE. Resonance Opportunities Fund has acquired 6.18 lakh shares (0.9 percent stake) at Rs 174.81 per share for Rs 10.81 crore.
Trust Financial Consultancy Services has bought 15.31 units in India Grid Trust at Rs 163.55 per unit for Rs 25.04 crore from Neo Treasury Plus Fund.
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