News Orders & Deals US hedge fund picks up additional 1.5% stake in Antony Waste Handling Cell; Plutus Wealth pares take in Ecos India, Rategain TravelUS hedge fund picks up additional 1.5% stake in Antony Waste Handling Cell; Plutus Wealth pares take in Ecos India, Rategain Travel
US hedge fund Miri Strategic Emerging Markets Fund increased its stake in Antony Waste Handling Cell by 1.49% for Rs 23.87 crore, driving the stock to a four-month high. Hill Fort India Fund acquired 0.7% in Bajaj Consumer Care for Rs 29.06 crore. Conversely, Plutus Wealth Management divested stakes in Rategain Travel Technologies (Rs 126.05 crore) and Ecos India Mobility (Rs 6.27 crore), leading to declines in both stocks.
*this image is generated using AI for illustrative purposes only.
Several significant bulk deals marked trading activity on January 23, with notable stake changes across multiple companies spanning waste management, consumer goods, and technology sectors.
Major Stake Acquisitions
Antony Waste Handling Cell emerged as the day's standout performer following substantial foreign investment. US-based Miri Strategic Emerging Markets Fund, owned by Miri Capital Management, acquired an additional 1.49% equity stake in the municipal solid waste management company through open market transactions.
| Transaction Details: | Value |
|---|---|
| Shares Purchased: | 4.23 lakh shares |
| Price per Share: | Rs 563.94 |
| Total Investment: | Rs 23.87 crore |
| Stake Acquired: | 1.49% of paid-up equity |
The stock responded positively to this investment, soaring 13.8% to close at a four-month high of Rs 570.75 amid high trading volumes. This latest acquisition follows the same fund's purchase of 3 lakh shares (1.05% stake) the previous week, in addition to the 1.14% shares held as of December 2025.
Bajaj Consumer Care also attracted institutional interest, with Hill Fort India Fund, a Mauritius-based FPI founded by Puneet Saraogi, purchasing a 0.7% stake in the FMCG company.
| Investment Summary: | Details |
|---|---|
| Shares Bought: | 9.69 lakh shares |
| Purchase Price: | Rs 299.94 per share |
| Total Value: | Rs 29.06 crore |
| Stock Performance: | +3% to Rs 305.8 |
This investment came after the stock had already rallied 20% in the previous session, with BNP Paribas Financial Markets having bought a 0.73% stake earlier.
Strategic Divestments
Plutus Wealth Management, founded by Arpit Khandelwal, executed significant stake reductions in two portfolio companies, potentially impacting their stock performance.
The firm offloaded its position in Rategain Travel Technologies, the SaaS provider in travel and hospitality sector:
| Divestment Details: | Value |
|---|---|
| Shares Sold: | 20.5 lakh shares |
| Sale Price: | Rs 614.9 per share |
| Total Proceeds: | Rs 126.05 crore |
| Stake Sold: | 1.73% |
| Buyer: | Paisabuddy Finance |
| Previous Holding: | 6.39% as of December 2025 |
Similarly, Plutus reduced its holding in Ecos India Mobility & Hospitality, the car rental service provider:
| Transaction Summary: | Details |
|---|---|
| Shares Divested: | 3.48 lakh shares |
| Sale Price: | Rs 180.13 per share |
| Total Value: | Rs 6.27 crore |
| Stake Reduction: | 0.58% |
Market Impact
Both stocks that witnessed Plutus Wealth's divestment experienced negative price movements. Rategain Travel Technologies declined 4.86% to Rs 615, while Ecos India Mobility fell 6.51% to Rs 175.25 on the NSE. Both stocks formed bearish candle patterns on their daily charts, suggesting potential continued weakness.
These bulk deals highlight the ongoing portfolio rebalancing activities among institutional investors, with foreign funds showing increased interest in Indian waste management and consumer sectors while domestic funds optimize their technology and mobility sector exposures.
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