The troubled infrastructure company Maytas Infra has been mysteriously buzzing again. While, institutional investors like IFCI and Sicom offloaded their stake in the company, the question is who is buying?
The Maytas Infra stock has appreciated 25% hitting 5% upper circuit this week.
The identity of the buyer remains unknown and the story does not end here.
Since March, 20% of Maytas stake has been sold by two institutions, 13.5% by IFCI and nearly 6% by Sicom. However, buyers for only 6% equity has been reported on the stock exchanges.
According to stock exchanges, CLSA bought around 29 lakh shares or 4.9% in June at around Rs 76.5 per share and Deutsche Securities bought 3.75 lakh shares or 0.6% at Rs 90 per share.
Market sources indicate that some Hyderabad based entities have acquired nearly 14% through front entities. CNBC-TV18 is yet to ascertain the indentity of these buyers. So, the mystery still continues as to who has amassed 14% stake of Maytas.
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