VANGUARD FUNDS RAISE STAKES IN FOUR INDIAN COMPANIES

Vanguard Group, through two of its investment schemes, acquired more than a 1% stake each in Avalon Technologies, Pine Labs, SJS Enterprises and SKF India (Industrials) through open-market transactions on September 18. The funds involved are Vanguard Total International Stock Index Fund and Vanguard Emerging Markets Stock Index Fund, both part of Vanguard International Equity Index Funds. The schemes operate as foreign portfolio investors on behalf of their underlying investors. The two funds purchased 7.02 lakh shares of Avalon Technologies, equivalent to a 1.05% stake, for ₹177.45 crore. The shares were acquired at an average price of ₹2,527.69 apiece. In Pine Labs, the Vanguard schemes bought 1.67 crore shares, representing a 1.45% stake, for ₹321.7 crore at ₹191.85 per share. Noida-based Pine Labs provides point-of-sale systems, online payment gateways and digital payment infrastructure. Vanguard also acquired 3.96 lakh shares of SJS Enterprises, amounting to a 1.24% stake, for ₹96.26 crore at ₹2,425.80 per share. SJS Enterprises manufactures aesthetic and decorative components for the automotive and consumer appliance sectors. The bulk buying was accompanied by strong gains in the stocks on Friday. Avalon Technologies surged 13.8% to close at ₹2,537.70 on the NSE amid heavy volumes, while Pine Labs gained 4.1% to ₹192.04 on above-average trading activity. SJS Enterprises advanced 6.92% to ₹2,422.80, supported by robust volumes. SKF India (Industrials), meanwhile, ended 1.49% higher at ₹2,984.20 after retreating from the day’s high, with strong volumes recorded during the session.