Stocks such as HDFC Bank, Axis Bank, Cholamandalam Investment and Finance Company, NTPC, Reliance Industries, Kotak Mahindra Bank, UltraTech Cement, Bharti Airtel and Mahindra & Mahindra (M&M) were among stocks that saw huge block deals this week, data available with Nuvama Research suggested.
In the large-cap space, HDFC Bank witnessed the most (49) block deals for the week (ended October 6, 2023), worth Rs 2,963 crore. The deals were executed at an average price of Rs 1,532 and involved 1.93 crore shares. HDFC Bank shares have risen 0.5% this week.
Private lender Axis Bank witnessed the second-highest block deals (10) for the week, valued at Rs 785 crore. Around 76.44 lakh shares changed hands at an average price of Rs 1,027. The counter has marginally slipped 3.4% this week
NTPC was among the top losers and the stock cracked 4.1% over the week. Overall, 10 block deals were executed, worth Rs 169 crore, according to the Nuvama report. Around 72.28 lakh shares changed hands at an average price of Rs 234, this report said.
Larsen & Toubro (L&T) was among the biggest gainers this week as the stock surged 2.4%. Three block deals were recorded, valued at Rs 129 crore. 4.19 lakh shares changed hands and the average price was Rs 3,073.
During the week, Nuvama said 11 other stocks, such as Kotak Mahindra Bank, UltraTech Cement, Cholamandalam Investment, Bharti Airtel, M&M, HDFC Life, ICICI Bank, Apollo Hospitals, Asian Paints, Reliance Industries and Torrent Pharma, witnessed significant bulk deal action.
Cholamandalam Investment also saw 10 block deals this week like Axis Bank and NTPC (as mentioned earlier). For Cholamandalam, the deals were valued at Rs 325 crore. Around 26.91 lakh shares changed hands at an average price of Rs 1,208. The stock settled with weekly gains of 0.2%.
Kotak Mahindra Bank recorded nine blocks deals this week, valued at Rs 603 crore. The stock rose 0.5% during the week.
UltraTech Cement, Bharti Airtel, M&M and HDFC Life Insurance saw six block deals, respectively, this week.
Nuvama said Apollo Hospitals (5), Asian Paints (4), Reliance Industries (3), ICICI Bank (2) and Torrent Pharma (2) were the other stocks that saw block deals from the large-cap space.
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