The Indian stock market continued its good roll during the seventh week of 2012. The BSE Sensex is now up a huge 18% year to date. Wow! Maybe, someone should check if any of the thousands of schemes run by 40+ mutual funds in the country has outperformed the index.
Let’s look at bulk deals for the week that could be of interest to fellow investors:
On Feb 14 2012, Goldman Sachs bought over two million shares in Mumbai-based realty firm HDIL at an average price of Rs. 97.80/- per share. And guess what, their investment of Rs. 21.7 crores in the firm is already worth Rs. 27.2 crores. HDIL has literally been on fire and has zoomed 130% this year.
On Feb 14 2012, Reliance Life Insurance bought shares worth Rs. 27.8 crores in Radico Khaitan at an average price of Rs.111/- per share. The seller was Venus Infosoft. The investment in 8PM whisky maker (which is available at 20 times its trailing earnings) seems to be a fundamental and safe bet for Reliance Life.
On Feb 15 2012, Tree Line Asia bought shares worth Rs. 24.7 crores in Mumbai-based Sunteck Realty at an average price of Rs. 353/- per share from Kotak Alternate Opportunities India Fund. Considering the profile of Kotak as an investor and business associations with Ajay Piramal, the buy in Sunteck Realty could be fruitful for Tree Line Asia.
On Feb 15 2012, Samruddhi Investors Services bought over ten million shares of Sanghi Industries at Rs. 17.50/- per share from Spinnaker Global Opportunity Fund. Spinnaker, a UK based hedge fund, is believed to have burnt its hands by investing in this company.
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