Monitoring significant stock transactions like block deals can offer valuable insights for informed investors. These deals, involving large quantities of shares, often reflect major investors’ sentiments and can influence a stock’s price and market perception. Block deals require a minimum of 5 lakh shares or a value of Rs 10 crore to be traded at a single price between two parties.
Here are the notable block deals from September 2023, sourced from the National Stock Exchange:
Triveni Turbine Limited: On September 1, 2023, Rati Sawhney sold 14 lakh shares of Triveni Turbine Limited. Subhadra Trade and Finance Limited acquired these shares at an average price of Rs 395 per share.
IDFC First Bank Limited: On September 11, 2023, V. Vaidyanathan, the MD and CEO of IDFC First Bank, sold 5.07 crore shares. Prominent institutional investors, including GQG Partners, Goldman Sachs, Abu Dhabi Investment Authority, Reliance Trust Institutional Trust Fund, and others, purchased these shares at an average price of Rs 94.5 per share.
Restaurant Brand Asia Limited: On September 15, QSR Asia PTE Limited sold 12.54 crore shares of Restaurant Brand Asia Limited (formerly Burger King India). These shares were acquired by ICICI Prudential Life Insurance Company, Plutus Wealth Management LLP, Quant Mutual Fund, Tata Mutual Fund, and others at an average price of Rs 119 per share.
Five Star Business Finance Limited: Also on September 15, SCHF PV Mauritius Limited sold 30.18 lakh shares of Five Star Business Finance Limited. The Small Cap World Fund purchased all these shares at an average price of Rs 700 per share.
Hinduja Global Solutions Limited: On September 22, Legends (Cayman) Limited sold 2.80 lakh shares of Hinduja Global Solutions Limited. Aviator Global Investment Fund acquired all these shares at an average price of Rs 1005 per share.
Shyam Metalics and Energy Limited: On the same day as the Hinduja Global Solutions Limited deal, Narantak Dealcomm Limited sold 10.93 lakh shares of Shyam Metalics and Energy Limited. These shares were purchased by Shyam Metalics Employees Welfare Trust at an average price of Rs 430 per share.
Westlife Foodworld Limited: On September 27, Makino Holding Limited sold 2.92 lakh shares of Westlife Foodworld Limited. Horizon Impex Private Limited acquired all these shares at an average price of Rs 998.8 per share.
NCL Industries: The last block deal took place on September 28 in NCL Industries. Ashven Datla and Shilpa Datla sold 42.04 lakh shares, and NCL Holdings Limited, Anand Rathi Global Finance, and Gautam Kalidindi acquired all these shares at an average price of Rs 225 per share.
Among these block deals, the largest one occurred in Restaurant Brand Asia (formerly Burger King India) when QSR Asia PTE Limited sold 12.54 crore shares. The second-largest block deal took place in IDFC First Bank, where V. Vaidyanathan, the bank’s MD and CEO, sold 5.07 crore shares.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.