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Business News/ Markets / Stock Markets/  Small-cap stock below 50: Mauritius-based FII buys stake in Pioneer Embroideries during Q4FY24
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Small-cap stock below ₹50: Mauritius-based FII buys stake in Pioneer Embroideries during Q4FY24

Small-cap stock under ₹50: Mauritius-based FII Tano Investment Oppertunities Fund bought fresh stake in the company during Q4FY24

Small-cap stock under ₹50: It's important to note that as per the exchange filing rules, a listed company is required to disclose the names of investors who own one percent or more stake in the company. (Page: Pixabay)Premium
Small-cap stock under 50: It's important to note that as per the exchange filing rules, a listed company is required to disclose the names of investors who own one percent or more stake in the company. (Page: Pixabay)

Small-cap stock below 50: Despite the dip in the first quarter of 2024, Pioneer Embroideries shares have shown a promising uptrend since the start of the new financial year 2024-25. This positive trajectory, especially in the face of continuous selling from mid-January 2024 to March 2024, is a beacon of hope. Even more encouraging is the fact that Mauritius-based foreign institutional investor Tano Investment Opportunities Fund closely monitored the stock movement, culminating in their ownership of 25 lakh company shares, representing an 8.48 percent stake in Pioneer Embroideries Limited for the January to March 2024 quarter.

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Tano Investment Opportunities Fund shareholding

Examining the shareholding pattern of Pioneer Embroideries Ltd for the January to March 2024 quarter, we find that Tano Investment Opportunities Fund strategically owns 25 lakh small-cap company shares, equating to an 8.48 percent stake in the company. This indicates a thoughtful investment approach. Comparing this to the October to December 2023 quarter, we see that Tano Investment Opportunities Fund was not listed as a shareholder, suggesting they acquired fresh shares during Q4FY24. However, it is challenging to determine whether these shares were purchased in one transaction or accumulated over time in the March 2024 quarter.

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It's important to note that as per the exchange filing rules, a listed company is required to disclose the names of investors who own one percent or more stake in the company. Therefore, it's possible that Tano Investment Opportunities Fund owned some company shares, but their net stake was below one percent, so the company was not obligated to mention them in its October to December 2023 shareholding pattern.

The shareholding pattern also does not provide details of buying and selling of stocks, making it impossible to determine the timing of Tano Investment Opportunities Fund's acquisition of the 8.48 percent stake. However, it is clear that the Mauritius-based FII made a strategic investment in this small-cap stock below 50 during the January to March 2024 quarter.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 28 May 2024, 03:20 PM IST
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