Abu Dhabi Investment buys stake in this smallcap co that has outperformed Sensex

Abu Dhabi Investment Authority on Friday bought a 0.8 per cent stake in through a block deal, according to the exchange data.

The sovereign wealth fund has bought 556,493 shares at Rs.332, a slight discount from the stock’s closing price on Thursday.

Before this purchase, the sovereign wealth fund was not holding any stake in the metal recycling and smelting products manufacturer.

Abu Dhabi Investment Authority bought the stake sold by individual investor Atul Kuchhal, data showed. The investor held a 2.14 per cent stake in Gravita India as of June 30.

Besides Kuchhal, lead investor Ashish Kacholia holds a 1.81 per cent stake in Gravita India.

Shares of Gravita India have risen nearly 17% year-to-date, bucking the BSE Sensex, which has fallen 0.1% in the same period.

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