Attracting Foreign Institutional Investors (FIIs) tends to be a positive signal for people tracking the stock in specific or stock markets in general. Listed below are two stocks under the “small-cap” category in which Societe Generale bought a stake:
Indiabulls Housing Finance Limited
Indiabulls Housing Finance Limited is a private housing finance company based in India. The company has businesses spanning across housing finance, wealth management, real estate, etc.
The company’s stock started its trading session at Rs 128.60 and currently trades at Rs 136, a gain of around 6.50 percent as compared to the previous closing levels of Rs 127.60 apiece.
According to the Bulk Deal data available with the National Stock Exchange (NSE), Societe Generale bought around 27.85 Lakh equity shares of the company at an average price of Rs 127.96 per equity share.
In addition to the above, the company’s Board, in a regulatory filing with the exchange dated 28th July 2023, approved the issuance of secured Non-Convertible Debentures of up to Rs 35,000 crores on a private placement basis.
In recent period, the company witnessed a dip in revenues as well as net profits with the former reducing from Rs 2,338 crores during Q3FY22-23 to Rs 2,075 crores during Q4FY22-23, and, net profits moving down from Rs 290 crores to Rs 262 crores.
MAS Financial Services Limited
MAS Financial Services Limited operates as a Non-Banking Financial Company (NBFC) involved in the retail business comprising two-wheelers, three-wheelers, and other multi-utility vehicles loans to microfinance institutions, individual borrowers, and other non-banking financial companies.
The company’s stock started its trading session at Rs 815 and currently trades at Rs 800, a gain of around 1.50 percent as compared to the previous closing levels of Rs 789.55 apiece.
According to the Bulk Deal data available with the National Stock Exchange (NSE), Societe Generale bought around 5.94 Lakh equity shares of the company at an average price of Rs 769.97 per equity share.
In recent period, the company witnessed a marginal increase in revenues as well as net profits with the former moving up from Rs 262 crores during Q3FY22-23 to Rs 280 crores during Q4FY22-23, and, net profits increasing from Rs 52 crores to Rs 56 crores.
Written by Amit Madnani
