Block Deals: For the last three months, a great boom is being seen in the Indian stock market. From foreign to domestic investors are increasing investment in the Indian market. So, one after the other big block deals are being seen in the market. Global private equity firm Carlyle is going to sell its 2.53 per cent stake in logistics startup company Delhivery through a block deal. In this block deal, 1.84 crore shares will be sold at a price of 385.5 per share.
But this week big block deals have been seen in the market. On Wednesday, Piramal Enterprises sold all its 8.34 per cent shares in Shriram Finance in a block deal for Rs 4,630 crore. Piramal Enterprises sold shares at Rs 1,483 at a discount of 4.9 per cent. The result of this block deal was that the stock of Shriram Finance closed at Rs 1,734 with a gain of 11.20 per cent.
On Tuesday, Aberdeen Investment Management sold its entire stake in HDFC AMC, the asset management company of HDFC Group. Aberdeen Investment Management has sold Rs 2.18 crore shares of HDFC Asset Management after making 126x profit. Aberdeen sold this stake for Rs 4083 crore. In this block deal, even after the discount in shares, the stock of HDFC AMC saw a strong rise.
This week Timken Singapore has sold its 8.4 per cent stake in Timken India in a block deal for Rs 1,890 crore. However, after this deal, there was a big fall in the stock of Timken India.
That is, in just three days this week, the market has seen the transaction of shares in block deals worth more than Rs 10,500 crore. Which shows the strength of the Indian market. Market experts believe that the Indian market is moving towards a new boom after the billions of block deals were successful with great ease.
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