WSIP Buys Mahanagar Gas Stake; Funds Trade Apollo Micro, Cyient DLM

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AuthorRiya Kapoor|Published at:
WSIP Buys Mahanagar Gas Stake; Funds Trade Apollo Micro, Cyient DLM
Overview

Washington State Investment Board acquired a 0.62% stake in Mahanagar Gas for ₹58.7 crore. Meanwhile, Motilal Oswal Mutual Fund bought a 0.5% stake in Apollo Micro Systems for ₹34.17 crore and sold shares in Cyient DLM. Large inter-dealer trades also involved Bajaj Finance, Bharti Airtel, Hindalco, InterGlobe Aviation, and Mahindra & Mahindra.

The Washington State Investment Board has taken a new position in Mahanagar Gas, acquiring more than 0.6% of the company's equity for about ₹58.7 crore. The purchases were made through open market transactions on March 27, as Mahanagar Gas shares closed slightly higher at ₹940.3, continuing a modest upward trend.

Mutual Fund Activity

Motilal Oswal Mutual Fund was also busy, buying a 0.5% stake in Apollo Micro Systems, a provider of defense and aerospace solutions. This acquisition was worth ₹34.17 crore, coming as Apollo Micro Systems shares dropped 4.14%. At the same time, the fund sold a 0.68% stake in Cyient DLM, a design and manufacturing firm, for ₹15.1 crore. Cyient DLM shares also fell.

Real Estate and Infrastructure Trades

In real estate, HDFC Capital Affordable Real Estate Fund-1 sold a 1% stake in Arvind SmartSpaces for ₹23.39 crore. An ESOP trust linked to the developer bought a similar stake at nearly the same price. Spark Financial Holdings also acquired 1.8 million units of Cube Highways Trust for ₹26.28 crore.

Inter-Dealer Large-Cap Exchanges

Large trades between institutional desks were notable. BNP Paribas Financial Markets bought shares of Bajaj Finance and Mahindra & Mahindra from Societe Generale. In another deal, Societe Generale sold a significant stake in Bharti Airtel to BNP Paribas Financial Markets. The two banks also handled large block trades in Hindalco Industries and InterGlobe Aviation, indicating widespread adjustments in institutional portfolios.

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