Synopsis: Foreign investors acquired stakes in Antony Waste and Bajaj Consumer, with total investments of approximately Rs 53 crore, indicating the strong interest of FIIs in the waste management and FMCG sectors.
Foreign investors became active in Indian mid-cap shares as bulk deals brought attention to the renewed interest in the market. Select foreign funds increased their holdings in companies operating in the waste management and FMCG sectors, which showed their confidence in companies with stable demand, essential services exposure, and growth visibility despite market volatility.
Antony Waste Handling Cell Ltd
Antony Waste Handling Cell Ltd is engaged in the business of mechanical power sweeping of roads, collection and transportation of waste, waste-to-energy projects and undertaking the designing, construction, operation and maintenance of the integrated waste management facility in Kanjurmarg, Mumbai.
With the market cap of Rs 1,652 crore, the shares of Antony Waste Handling Cell Ltd gained about 6% and made a high at Rs 604.70, compared to its previous day closing price of Rs 572.45, and are trading at a PE of 24, whereas its industry PE is at 21.
US-based Miri Strategic Emerging Markets Fund, which is owned by Miri Capital Management, acquired a 1.49% stake in Antony Waste Handling Cell through a bulk deal by purchasing 4.23 lakh shares worth Rs 23.87 crore. This investment shows the increasing foreign interest in the waste management and environmental services sector in India, which is driven by the long-term trend of urbanisation, stricter regulations on waste, and the increasing outsourcing opportunities from municipalities.
Bajaj Consumer Care Ltd
Bajaj Consumer Care is engaged in the business of cosmetics, toiletries and other personal care products and has a presence in both domestic and international markets.
With the market cap of Rs 4,116 crore, the shares of Bajaj Consumer Care Ltd gained about 4% and made a high at Rs 319, compared to its previous day closing price of Rs 306.45, and are trading at a PE of 26, whereas its industry PE is at 49.
Hill Fort India Fund, a foreign portfolio investor from Mauritius, has also increased its holding in Bajaj Consumer Care by acquiring 9.69 lakh shares, representing a 0.7% stake, for a consideration of Rs 29.06 crore. This is in addition to a previous stake acquisition by BNP Paribas, which reiterates the interest of FIIs in the company, largely due to its robust brand presence in the FMCG space and prospects of stable earnings growth.
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