Stocks such as Jio Financial Services, Coforge, HDFC Bank, Manappuram Finance and Amber Enterprises were among stocks that saw huge block deals this week, data available with Nuvama Research suggested.
Jio Financial Services Ltd HDFC Bank witnessed the most (185) block deals for the week (ended August 25, 2023), worth Rs 930 crore. The deals were executed at an average price of Rs 58 and involved 16.04 crore shares. The stock was listed on the bourses at Rs 265 apiece on August 21. It has corrected sharply since then. Investors are now keenly awaiting the annual general meeting (AGM) of Reliance Industries (RIL), scheduled on August 28.
IT firm Coforge witnessed the second-highest block deals (68) for the week, valued at Rs 8,956 crore. Around 1.88 crore shares changed hands at an average price of Rs 4,771. The stock settled 2.45% lower at Rs 5,259 on Friday. However, the counter has gained 6.9% this week to emerge as one of the top gainers, as per Nuvama's list.
NBFC lender Manappuram Finance was among the top losers and the stock cracked 5.3% over the week. Overall, 11 block deals were executed, worth Rs 1,377 crore, according to the Nuvama report. Around 9.82 crore shares changed hands at an average price of Rs 140, this report said.
After Coforge, RBL Bank was among the biggest gainers this week as the stock surged 6.7%. 3 block deals were recorded, valued at Rs 219 crore. 95.38 lakh shares changed hands and the average price was Rs 230.
During the week, six other stocks including Max Financial, SJS Enterprises, Sapphire Foods, Amber Enterprises and Kotak Mahindra Bank witnessed significant bulk deal action, Nuvama said.
HDFC Bank observed 22 block deals worth Rs 292 crore during the week. Around 24.07 lakh shares changed hands at an average price of Rs 1,214. The stock settled with weekly losses of 1.8%.
10 block deals worth Rs 182 crore were recorded in Amber Enterprises. The stock ended with a loss of 1.1% over the week. The deals were executed at an average price of Rs 929 and involved 19.60 lakh shares.
Kotak Mahindra Bank saw 5 block deals, valued at Rs 252 crore. The stock settled the week with a 1.6% uptick. The deals were executed at an average price of Rs 1,757, involving 9.11 lakh shares.
SJS Enterprises witnessed 4 block deals worth Rs 613 crore during the week. Around 1.01 crore shares changed hands at an average price of Rs 608. The stock settled with a weekly drop of 1.3%. Sapphire Foods also saw 4 block deals worth Rs 430 crore.
In value terms, Max Financial saw 2 block deals this week worth Rs 1,040 crore. The deals were executed at an average price of Rs 915, involving 1.14 crore shares.
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.