Foreign Institutional Investors (FIIs) are those who actively participate in the financial markets of countries other than their own. FIIs aggregate money from various investors and other entities and then invest it in different financial assets.
Whenever foreign investors like Goldman Sachs, Morgan Stanley, HSBC, and others buy or sell the shares of Indian companies, their stock price makes a significant move.
Marshall Wace Investment Strategies Eureka Fund is a hedge fund operated by Marshall Wace LLP and has approximately 11.6 billion dollars in assets. The fund is one of the larger private funds and is based in Ireland.
The global investment management firm specialises in quantitative, systematic, and fundamental strategies, predominantly in long or short equity. The firm manages a range of funds, including the Eureka Fund, Europa Fund, and Europa Long Only Fund.
Listed below are 4 stocks in which Marshall Wace Investment Strategies (Eureka Fund) has bought stake in these companies:
One 97 Communications Ltd
With a market capitalisation of Rs. 48,454 crores, the shares of Indian multinational financial technology company started Tuesday’s trading session on a higher note at Rs. 753 compared to its previous close of Rs. 752.05. During the trading session, the shares hit a high of Rs. 767, gaining around 2 percent and are currently trading at Rs. 763 apiece.
According to BSE Bulk Deals data on January 29, Marshall Wace LLP, Marshall Wace Investment Strategies (Eureka Fund), one of the well-known global hedge funds, bought 40,89,360 equity shares in the Paytm operator at an average price of Rs. 753.75 per share, valued at Rs 308.2 crores.
Bandhan Bank Ltd
With a market capitalisation of Rs. 36,117 crores, the shares of the banking company started Tuesday’s trading session on a higher note at Rs. 225 compared to its previous close of Rs. 223.
During the trading session, the shares hit a high of Rs. 225.40, gaining around 1 percent and are currently trading at Rs. 224 apiece.
According to BSE Bulk Deals data on January 29, Marshall Wace LLP, Marshall Wace Investment Strategies (Eureka Fund), one of the well-known global hedge funds, bought 1,88,33,391 equity shares in the private sector lender at an average price of Rs. 224.4 per share, amounting to Rs 422.62 crores.
Manappuram Finance Ltd
With a market capitalisation of Rs. 15,752 crores, the shares of the NBFC started Monday’s trading session on a higher note at Rs. 181.25 compared to its previous close of Rs. 179.90.
During the trading session, the shares hit a high of Rs. 188.20, gaining around 4 percent, also recorded as the company’s fresh 52-week high and are currently trading at Rs. 185 apiece.
According to NSE Bulk Deals data on January 29, Marshall Wace LLP, Marshall Wace Investment Strategies (Eureka Fund), one of the well-known global hedge funds, has picked 51,27,647 equity shares, which is equivalent to 0.6 percent of paid-up equity capital, in the company at an average price of Rs 174.55 per share.
Furthermore, Societe Generale sold 52,72,731 equity shares in the company at an average price of Rs 174.55 per share.
Canara Bank
With a market capitalisation of Rs. 86,779 crores on January 29, the shares of the PSU bank started Monday’s trading session on a higher note at Rs. 475.10 compared to its previous close of Rs. 474.
During the trading session, the shares hit a high of Rs. 478, gaining around 1 percent, and are currently trading at Rs. 477 apiece.
According to BSE Bulk Deals data, Marshall Wace LLP, Marshall Wace Investment Strategies (Eureka Fund), one of the well-known global hedge funds, has 91,46,562 equity shares in the public sector lender at an average price of Rs 454.3 per share, amounting to Rs 415.5 crores.
Written By Vaibhav Patil
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