Marc Faber fund exiting Indian Stocks

Marc Faber, Editor and Publisher of "The Gloom, Boom & Doom Report" and author of the bestselling "Tomorrow's Gold" has exited from few Indian companies. Mar Faber is associated with the fund Winstar India Investment Company Limited which has holdings in many Indian companies.

In a filing to the stock exchanges the fund has mentioned that it has exited from mid cap and small cap companies through bulk deals in Bombay Stock Exchange.

The fund has sold its stake in Galaxy Entertainment Ltd, IFB Industries Ltd and Nirlon Ltd.

The fund has sold 1061530 equity shares of Galaxy Entertainment Ltd at Rs.14.25 and the buyers were ECLIPSE TRADES PVT LTD (780932 equity shares) and DANKE DEALERS PVT LTD (280598 equity shares).

The fund sold 802331 equity shares of IFB Industries Ltd at Rs.123.75 and the buyer was DANKE DEALERS PVT LTD (802331 equity shares).

The fund has sold 711761 equity shares of Nirlon Ltd at Rs.40.75 and the buyer was DANKE DEALERS PVT LTD (711761 equity shares).

The Indian stock markets have been falling in line with the global markets, but the small and mid cap stocks have fallen much more than the large cap stocks.

Source : Equity Bulls

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