What to Watch. Acacia funds buy into Ortel Communications

Ruane, Cunniff & Goldfarb based in New York City has bought shares of Ortel Communications at ₹190 apiece. The investment firm, of which Sequoia Fund is the flagship private equity fund, bought 12.96 lakh shares under four schemes - Acacia Banyan Partners, Acacia Conservation Fund, Acacia Inst Partners LP and Acacia Partners LP. Kotak Bank offloaded 11.82 lakh shares at an average price of ₹190.03, showed NSE bulk deal data. The buying bodes well for the recently-listed stock.