Merrill Lynch India Equities Fund(Mauritius) has bought 1,376,602 shares of a textile company @ Rs.332/-. Leela Devi Himatsingka(from the promoter group) was the seller with 1,155,350 shares sold @ RS.332/-.
Please watch the video to know more about the company.
Having watched the video however it is imperative to mention that fund/institutional interest in the company is not a guarantee of future appreciation in the stock price of a company. One must tread with extreme caution while taking action on stocks where there has been recent fund action. This is because with such a large chunk of shares, any sort of liquidation on their part may send the stock tumbling down. The general public would only come to know of the information post the event happening, by which time the stock price would have substantially depreciated. Hence, please exercise extreme caution and consult your financial advisor prior to taking any action on any of the information presented herewith.
Standard Disclaimer :: The information in this article has been compiled from freely available information on the internet. None of the stocks mentioned here should be considered as recommendations to buy and one must carry out his/her own research prior to acting on any of the information presented here.
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Basant Maheshwari is one of the most acclaimed stock investors in India. He brings with him over two decades of experience in equity investing, and is a Cost Accountant and a graduate from
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