Street signs: Will anchor investors flip D-Mart shares?

The 30-day lock-in period on anchor investors of Avenue Supermarts ends on Monday

Will anchor investors flip D-Mart shares? 

The 30-day lock-in period on anchor investors of Avenue Supermarts, the operator of D-Mart, ends on Monday. The question market experts are asking is whether anchor investors will sell at least a part of their shares, due to the good returns that they are already sitting on. While most of them say they plan to stay on with the investment as they are in it for the long haul or have strong personal equation with promoter Radhakishan Damani, some fund managers said the returns have surpassed their expectations and they won’t mind partial profit-taking. D-Mart had raised Rs 560 crore from anchor investors before its IPO. The stock is currently trading at Rs 780.50, 160 per cent higher than the issue price of Rs 299. 

Samie Modak   

Prime Focus rises on sale buzz

The share price of media services company Prime Focus has been rising steadily in the past few weeks on reports that Anil Ambani’s Reliance group had initiated talks with Dalian Wanda Group, Tencent and others to sell Reliance MediaWorks’ entire 35 per cent stake in the company, which could trigger an open offer for another 26 per cent stake. Reliance group had sold around 10 per cent stake in Prime Focus in October 2015. Prime Focus’s share price has risen from Rs 83 to Rs 115.60 in April – a rise of 40 per cent in two weeks                        

Joydeep Ghosh

Windfall for liquid MFs

Debt mutual funds (MFs) saw a spurt in investments on Thursday, ahead of the long weekend. According to sources, many large corporates parked their surplus cash into liquid MFs to make some treasury income. “As Friday was a bank holiday, a lot of companies delayed their payment obligations and instead put that money in liquid funds. They will withdraw it on Monday when markets open,” said an industry official, adding that a large Sensex company has invested in liquid funds of four different asset management companies.

Samie Modak