Hello all. I had a question reg the shareholding at ACE. Clearly, the stock has done exceedingly well post March 2020 along with a solid increase in earnings. The story is pretty straightforward and part of the infra/capex theme that the market clearly loves right now. So the question then is, why is it that MF holding in ACE is only at 0.4%? This was near 2.9% in the Sept 2022 quarter which in itself was quite low. At a market cap of 17000 cr+ with a 34% free float, its a little surprising that MFs have such low exposure to such an obvious infra/capex name. While there is nothing wrong in this and there will always be exceptions, one of my filters for determining any unknown CG/quality issues is to see MF holding % which seems a little odd in this case. Similarly, there doesn’t seem to be much active sell side coverage for this name either considering its size and the sector it operates in (this is probably a function of the earlier mentioned issue itself i.e. lack of enthusiasm from MFs/DIIs towards this name).
Any thoughts?
Disc : Invested for several years
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