Stocks such as HDFC Bank, ICICI Bank, Reliance Industries (RIL), Kotak Mahindra Bank, Tube Investments of India, IndusInd Bank, Axis Bank and Tata Consultancy Services (TCS) 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 (40) block deals for the week (ended September 29, 2023), worth Rs 1,571 crore. The deals were executed at an average price of Rs 1,526 and involved 10.28 crore shares. HDFC Bank shares have slipped 0.2% this week.
Private lender ICICI Bank witnessed the second-highest block deals (23) for the week, valued at Rs 870 crore. Around 9.24 crore shares changed hands at an average price of Rs 952. The counter has marginally gained 0.2% this week.
Tube Investments was among the top losers and the stock cracked 6.6% over the week. Overall, five block deals were executed, worth Rs 589 crore, according to the Nuvama report. Around 2.03 crore shares changed hands at an average price of Rs 2,988, this report said.
Larsen & Toubro (L&T) was among the biggest gainers this week as the stock surged 3.6%. Just one block deal was recorded, valued at Rs 152 crore. 50.87 lakh shares changed hands and the average price was Rs 3,024.
During the week, Nuvama said 11 other stocks, such as Kotak Bank, RIL, IndusInd Bank, Axis Bank, TCS, Titan Company, SBI Cards, Maruti Suzuki, UltraTech Cement, ICICI Prudential Life and M&M, witnessed significant bulk deal action.
Kotak Mahindra Bank observed 11 block deals worth Rs 394 crore during the week. Around 2.26 crore shares changed hands at an average price of Rs 1,736. The stock settled with weekly losses of 1.2%.
Both Reliance Industries and Axis Bank recorded 10 blocks deals this week, valued at Rs 339 crore and Rs 296 crore, respectively. RIL shares shed 0.4% during the week; while Axis shares rose 1.8%
Titan Company and UltraTech Cement saw 8 block deals, each, worth Rs 181 crore and Rs 153 crore. Titan's stock cracked 3.8% during the week and UltraTech shares settled with a mild weekly gain of 0.8%.
ICICI Prudential Life saw seven block deals worth Rs 141 crore during the week. Around 2.46 crore shares changed hands at an average price of Rs 566. The stock settled with weekly losses of 2.1%.
Tata Consultancy Services witnessed five block deals worth Rs 197 crore during the week. Around 55.07 lakh shares changed hands at an average price of Rs 3,529. The stock settled with a weekly drop of 2.1%. Maruti Suzuki also saw five block deals worth Rs 162 crore.
In value terms, SBI Cards saw four block deals this week worth Rs 173 crore. The deals were executed at an average price of Rs 791, involving 2.21 crore shares.
Jubilant FoodWorks (12), Navin Fluorine International (6) and PB Fintech (5) observed the most block deals from the mid-cap space this week, Nuvama said.
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