Swiss-based UBS Group Acquires $234 Mn worth of Shares in 29 Cos. Including One97, TCS and Zomato Among Others

Swiss investment bank UBS Group has acquired shares worth ₹1,938 crore (about US$ 234 Million) in 29 Indian companies through open market transactions. Some of the prominent companies included in this acquisition are Fortis Healthcare, Max Financial Services, Reliance Industries, Blue Star, Hyundai Motor India, One97 Communications, Zomato, and Tata Consultancy Services (TCS).

This move showcases UBS Group's strategic interest in the Indian market and its confidence in the growth potential of these companies.

Meanwhile, UBS Group's affiliate UBS Principal Capital Asia Ltd offloaded the same number of shares of 29 companies at the same price.

This acquisition of shares in 29 Indian companies, by the UBS Group, is a significant move showcasing the Swiss Bank's strategic interest in the Indian market. Below are some more details:

Key Transactions:

• Fortis Healthcare: UBS AG purchased shares worth ₹164 crore.
• Max Financial Services: Shares worth ₹144 crore were acquired.
• Reliance Industries: UBS invested ₹138 crore in this blue-chip company.
• Blue Star: Shares worth ₹120 crore were picked up.
• Hyundai Motor India: UBS acquired shares worth ₹103 crore
• One97 Communications (Paytm), Zomato, and Tata Consultancy Services (TCS) were also part of this diversified investment.

Market Reaction:

• Fortis Healthcare: Shares fell by 3.19% to close at ₹615.50 apiece.
• Blue Star: Shares declined by 4.11% to end at ₹1,840.
• Reliance Industries: Shares went lower by 1.52% to settle at ₹1,244.45 apiece.

Strategic Implications:

Portfolio Diversification: UBS's investments span across various sectors including healthcare, financial services, energy, consumer goods, and technology.

Confidence in Indian Market: This move reflects UBS's confidence in the growth potential of these companies and the broader Indian economy.