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10 Indian stocks where the $5.3 trillion Vanguard Group has just picked up stakes.


Date: 19-03-2019
Subject: 10 Indian stocks where the $5.3 trillion Vanguard Group has just picked up stakes
The Vanguard Group, a leading investment management firm, is betting on India’s select companies in chemical, footwear, IT, retail and private banking space.

The foreign firm through its Vanguard Emerging Markets Stock Index fund picked up stake in 10 companies through open market on Friday.

It acquired 4.16 lakh shares of Aarti Industries at an average price of Rs 14,25.32. The scrip was 0.79 per cent up at Rs 1,428.35 at around 9.50 am while the BSE Sensex looked good with a gain of 324 points, or 0.85 per cent, at Rs 38,348. 

Aarti industries, which is into pharma and chemical business, in February said it has received a contract worth Rs 900 crore to supply specialty chemical intermediate to a global firm. 

Vanguard also bought into Bata India (8.51 lakh shares at Rs 1,374.80 each), CastrolNSE -0.19 % India (50.83 lakh shares at Rs 166.05), DCB Bank (40 lakh shares at Rs 201.69) and NIIT TechnologiesNSE 0.44 % (8.40 lakh shares at Rs 1,336.81).

On the other hand, Bata India is getting back into franchising after a gap of 20 years, according to Nirmal Bang Securities. The brokerage firm has an accumulate rating on the stock with a target price of Rs 1,479. 

“The model it follows in franchising is relatively lower risk with partners being asked to pay cash and carry the inventory. Geographically hitting 10,000 cities and towns, in our view, would possibly be a two to three-decade initiative for the company,” Nirmal Bang said in a report.

The group also took exposure to RBL BankNSE 1.19 % and Teamlease Services, buying 1 crore shares at Rs 648.49 each and 1 lakh shares at Rs 2,829.97, respectively. It also bought TTK Prestige (0.76 lakh), V-Guard Industries (23 lakh) and V-Mart Retail (1.55 lakh shares) at Rs 8,536.06, Rs 220.69 and Rs 2,628.10, respectively, NSE’s Friday’s bulk deal data showed.

Global brokerage firm CLSA earlier said, “TTK is well-placed to benefit from improving rural consumption, government welfare spending and further market share gains from GST implementation. The government’s aggressive rollout of the ‘Ujjwala’ scheme should lead to incremental demand for stoves and cookers for TTK. Meanwhile, TTK is in the process of expanding its cookers and cookware capacity, which should help address capacity constraints and service export orders.”

Domestic brokerage firm Ventura Securities recently maintained ‘Buy’ on RBL Bank with a target price of Rs 820, indicating a growth of 38 per cent over a period of 30 months. 

However, Vanguard sold around 1.50 crore shares of Unitech worth Rs 2.20 crore. Shares of Unitech were trading 2 per cent down at Rs 1.47 in the morning trade. 


Source: economictimes.indiatimes.com

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