BofA Buys MTAR Tech Stake; SocGen, Marshall Wace Swap Tata Capital Shares
Overview
Foreign institutional investors made significant moves on January 9. BofA Securities Europe acquired a 0.66% stake in MTAR Technologies for ₹54.9 crore. Concurrently, Societe Generale and Marshall Wace exchanged ₹51-crore worth of Tata Capital shares. MTAR Technologies saw its stock climb 6.84% amid the trading activity.
Key Transactions Unpacked
Institutional investors executed significant trades on January 9, marking notable shifts in holdings. BofA Securities Europe acquired a 0.66% equity stake in MTAR Technologies, a precision engineering solutions provider. The transaction involved 2.06 lakh shares purchased at ₹2,665.45 each, totaling ₹54.9 crore.
In a separate development, Societe Generale and Marshall Wace engaged in an exchange of shares concerning Tata Capital. Societe Generale purchased 14.33 lakh shares, representing 0.03% of the company's paid-up equity, at ₹354.5 per share. These shares were acquired from Marshall Wace Investment Strategies through its Tops World Equities Fund and Eureka Fund. This transaction amounted to approximately ₹50.82 crore.
Market Reaction
MTAR Technologies' stock responded positively to the news, surging 6.84% to ₹2,689.7. The stock traded with high volumes, reaching its highest level since October 23, 2023, despite a broader sell-off in the equity markets. Tata Capital's shares also saw a modest rise, climbing 1.55% to ₹360.
