Street signs: Big FII laps up mid-caps, Teamlease Services stock, and more

Teamlease Services, is attracting a lot of investor interest after it received the Reserve Bank of India's nod to increase foreign holding from 25 per cent to 75

Big FII laps up mid-caps
 
Vanguard, one of the largest foreign institutional investors (FIIs), has been buying shares of several mid-cap companies despite the weakness in the market. Last week, the US-based fund bought large chunk of shares in HEG, Graphite India, Eris Lifesciences and Capital First. Interestingly, the purchase comes even as shares of three of these four companies have rallied sharply. Shares of HEG and Graphite have jumped 138 per cent and 284 per cent, respectively in the past six months, while Eris is up 43 per cent.

*On Friday | Source: Exchange

Mayank Patwardhan
 
Analysts bullish on Teamlease
 
Teamlease Services, a leading people supply chain company, is attracting a lot of investor interest after it received the Reserve Bank of India’s nod to increase foreign holding from 25 per cent to 75 per cent in the first week of March. A couple of leading brokerages are advising clients to pick up this stock. “It is a good stock to have in your portfolio in times of financial turmoil,” said a broker. The company’s share price has been quite volatile – trading between Rs 2,000 and Rs 2,200 for almost a month. The stock closed at Rs 2,075 on Friday.
 
Joydeep Ghosh
 
Tight liquidity to weigh on market
 
Brokerages fear the market slide could extend due to tighter liquidity conditions.
 
At the end of any financial year, liquidity dries up as banks and corporates look to shore up their balance sheets. This time around a slew of initial public offers
 
(IPOs) is adding to the liquidity pressure. “Some large institutional investors could liquidate their positions to apply in some of the large IPOs. This could add to the pressure on stocks and the Nifty could even slide below 10,000 levels,” said a broker.
 
Samie Modak