INSUBCONTINENT EXCLUSIVE:
Mumbai: The outlook for mid- and small-cap stocks appears bleak as these companies are likely to take a bigger hit than their bigger peers
While investors have mostly focused on buying blue-chips in the recent fall, some foreign funds looked at mid-cap stocks since April 1
Here are five smaller companies in which overseas investors have either bought afresh or increased their stakes:
METROPOLIS
HEALTHCAREAmerican Smallcap World Fund has bought 10 lakh shares in Metropolis last week
The stock which corrected 37% since March 3 is one of the several private labs allowed for testing of Covid-19
While shutdown of clinics and hospitals OPD services will impact its B2B business which is unlikely to be offset by Covid-19 testing,
analysts expect a sharp recovery in FY2022
analyst, Kotak Securities.
THE PHOENIX MILLSSchroder Investment Management has acquired 1.8% stake in The Phoenix Mills last week, taking
The stock has declined 43% since February 25 as over 90% of its annuity income comes from retail malls and hospitality portfolio
However, its long-term story intact, according to analysts
COMMUNICATIONSRecently, East Bridge Capital Master Fund and University of Notre Dame DU bought 44 lakh and 15 lakh shares in Tata
Communications respectively
The stock which corrected more than 50% between January and March, has recovered 70% since March 19
Even at the current valuations, analysts see value in the stock despite some short-term business disruption
Capital Income Builder picked up shares worth over ?444 crore in Embassy Office Parks REIT through open market transactions earlier this
However, analysts said its current portfolio over 50% of tenants in the technology domain cushions the Covid-19 blow
analyst, ICICI Securities.
CARE RATINGSLos Angeles-based FPA International Value Fund bought 5.19 lakh shares of Care Ratings last week
Care Ratings continues to face challenges on the revenue front due to lower credit growth and the subdued investment cycle leading to lower
rating volumes for loans, bonds, and commercial paper, according to analysts
