Large-cap stocks such as Jio Financial Services, HDFC Bank, Zomato, Bharti Airtel, HDFC Life Insurance, Reliance Industries (RIL) and Larsen & Toubro (L&T) 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 (49) block deals for the week (ended September 1, 2023), worth Rs 2,505 crore. The deals were executed at an average price of Rs 223 and involved 11.25 crore shares. On a weekly basis, the stock jumped 14.3%.
Private lender HDFC Bank witnessed the second-highest block deals (26) for the week, valued at Rs 784 crore. Around 49.88 lakh shares changed hands at an average price of Rs 1,573. The stock settled 0.18% higher at Rs 1,574.85 on Friday. That said, the counter has gained 0.8% this week.
Torrent Pharma was among the top losers and the stock cracked 7.8% over the week. Overall, six block deals were executed, worth Rs 133 crore, according to the Nuvama report. Around 7.33 lakh shares changed hands at an average price of Rs 1,810, this report said.
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After Jio Financial, Tata Steel was among the biggest gainers this week as the stock surged 8.7%. Four block deals were recorded, valued at Rs 123 crore. 1.01 crore shares changed hands and the average price was Rs 123. Avenue Supermarts (DMart) and Tata Steel also saw four block deals, respectively.
During the week, six other stocks including Zomato, Bharti Airtel, HDFC Life Insurance, Reliance Industries (RIL) and Larsen & Toubro (L&T) witnessed significant bulk deal action, Nuvama said.
Online food aggregator Zomato observed 25 block deals worth Rs 871 crore during the week. Around 9.24 crore shares changed hands at an average price of Rs 94. The stock settled with weekly gains of 6.8%.
12 block deals worth Rs 1,879 crore were recorded in Airtel. The deals were executed at an average price of Rs 856 and involved 2.20 crore shares. The stock ended with a loss of 0.9% over the week.
HDFC Life Insurance saw eight block deals, valued at Rs 169 crore. The stock settled the week with a 2.1% uptick. The deals were executed at an average price of Rs 630, involving 26.82 lakh shares.
Reliance Industries witnessed six block deals worth Rs 257 crore during the week. Around 10.60 lakh shares changed hands at an average price of Rs 2,425. The stock settled with a weekly drop of 2.3%. L&T also saw six block deals worth Rs 197 crore.
In value terms, Adani Ports saw five block deals this week worth Rs 166 crore. The deals were executed at an average price of Rs 808, involving 20.54 crore shares. Bajaj Finance also witnessed five block deals, valued at Rs 132 crore.
Tube Investments witnessed three block deals worth Rs 102 crore during the week. Around 3.50 lakh shares changed hands at an average price of Rs 2,904. The stock settled with a weekly uptick of 3.7%. Cholamandalam Investment also saw three block deals worth Rs 98 crore.
The Nuvama report mentioned that Varun Beverages saw two block deals this week, valued at Rs 170 crore. The deals were executed at an average price of Rs 862, involving 19.72 lakh shares.
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