Rs 21,821 crore worth block deals take place this week; Jio Fin, Zomato see significant action

The week gone by saw prominent block deals worth Rs 21,821 crore that were executed in more than three dozen companies from the large, mid and smallcap segments.

In the largecap space, 15 companies witnessed significant block deals worth Rs 7,711 crore, led by Jio Financial Services with 49 block counts, totalling Rs 2,505 crore. The next in line were Bharti Airtel (Rs 1,879 crore), Zomato (Rs 871 crore), HDFC Bank (Rs 784 crore) and Reliance Industries (Rs 257 crore). Others, namely Larsen & Toubro (L&T), Varun Beverages, HDFC Life Insurance Company, Adani Ports & Special Economic Zone, Torrent Pharma, Bajaj Finance, Avenue Supermarts, Tata Steel, Tube Investments of India and Cholamandalam Investment & Finance Company saw block deals worth between Rs 197 crore to Rs 98 crore.

The data has been compiled by brokerage firm Nuvama and pertains to the period up to Thursday, August 31, 2023. The deals were made in the trading hours between 9:15 am and 3:30 pm.

In the midcap segment, a dozen companies witnessed prominent block deals worth Rs 7,484 crore. The leader in the pack was IDFC First Bank with a deal size standing at Rs 2,985 crore followed by Data Infrastructure Trust (Rs 1,944 crore), APL Apollo Tubes (Rs 581 crore) and Power Finance Corporation (Rs 540 crore). The others were Astral, Cummins India, Kajaria Ceramics, REC, FSN E-Commerce, Vedant Fashions, Coforge and ACC which saw deals between Rs 396 crore and 90 crore.

As for the smallcap stocks, block deals worth Rs 6,626 crore were struck in 12 companies. The number one spot went to Five Star Business Finance (Rs 1,940 crore) followed by Maan Aluminium (Rs 1,534 crore) and Medplus Health (Rs 1,333 crore). The others were Suzlon Energy, Prudent Corporate Advisory Services, Spandana Sphoorti, Aavas Financiers, Amber Enterprises, CEAT, Minda Corp, Angel One and Ami Organics with deal sizes ranging between Rs 454 crore and Rs 77 crore.

Nuvama also reported prominent bulk, block and insider deals in 10 stocks with details on buyers and sellers. Among them were Star Health Insurance where Fidelity bought shares worth Rs 877 crore. BNP Arb sold stakes in REC, Astral, Cummins India and HDFC AMC while buying shares of ACC.

MedPlus, Sula Vineyards and Prudent Corporate saw a slew of buying and selling activity by investors and mutual funds.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)