Goldman Sachs, Nippon India Mutual Fund, other big investors buy stake in FMCG stock Sapphire Foods. Should you buy it? | Jobs Vox


Big investment companies including Goldman Sachs, Nippon India Mutual Fund, ICICI Prudential Mutual Fund, ICICI Prudential Life Insurance Company, ITI Mutual Fund, etc. have invested in FMCG company Sapphire Foods India. These investment firms invested in the FMCG company in a block deal on Thursday. Details of the deal are available on the BSE website which are as follows.

Goldman Sachs buys stake in Sapphire Foods

Goldman Sachs (Singapore) bought 74,240 shares of Sapphire Foods stock on Thursday. The international investment company bought these shares 1,347 per share. Therefore, Goldman Sachs invested 10,00,01,280 or 10 crore in an FMCG company.

Nippon India Mutual Fund

AMC’s small-cap, multi-cap and flexible-cap fund managers invested in Sapphire Foods in a block deal on Thursday. Nippon India Small Cap Fund bought 32,000 shares of the company. 1,347 per one. Therefore, Nippon India has invested in small cap mutual funds 4,31,04,000 by Sapphire Foods India Ltd. Nippon India Multi Cap and Nippon India Flexi Cap Mutual Fund bought 45,500 and 27,158 shares of the company’s stock. 1,347 per one. This means, the multi-cap arm of Nippon India Mutual Fund has invested 6,12,88,500 invested in the flexible-cap arm 3,65,81,826. So, in sum, Nippon India Mutual Fund has invested recently 14 crore in an FMCG company.

ICICI Prudential Stock

As per BSE block deal details, both the mutual fund and the company’s life insurance arm have invested in Sapphire Foods India Limited. 1,347 per one. This means, ICICI Prudential Mutual Fund has invested 1,20,00,00,543 or 120 crores.

Similarly, ICICI Prudential Life Insurance Company bought 185,599 shares of Sapphire Foods by paying Rs. 1,347 each leading to a net investment 25,00,01,853 or 25 crores.

Therefore, ICICI Prudential has made a net investment recently 145 crore in yesterday’s block deal.

Apart from these, some more domestic institutional investors like Mirae Asset Mutual Fund, ITI Mutual Fund, Kotak India Mid Cap Fund, Bajaj Allianz Life Insurance Company, Government of Singapore, HSBC Global Investment Fund, etc. have bought new stake in this FMCG. Company.

Should You Buy Sapphire Foods Shares Now?

Commenting on the price outlook for Sapphire Foods, Ravi Singhal, CEO, GCL Securities said, “Currently, the stock price of Sapphire Foods is range bound. 1,300 to 1,450 per level. Once, it gives the above difference 1,450 on a closing basis, may go up. 1,750 per share levels in the short and medium term. Those, who have this stock in their portfolio are advised to keep the stock holding further below the stop loss. 1300 but fresh buyers can buy the stock at market price below the strict loss. 1,300 and accumulate more if it falls below 1,350 per level.

Disclaimer: The opinions and recommendations presented above are those of individual analysts or distributor companies and not of Mint. We recommend that investors check with certified professionals before making any investment decision.

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