Block deals, June 11: Aditya Birla Capital stock up 3% after 2.34 crore shares change hands for ₹568 crore; Eternal also sees large trade

AB Capital shares rallied as much as 2.97% to ₹249.89 apiece on the NSE in the opening deals, while Eternal shares were trading nearly 1.5% higher at ₹259.31.

There has been a huge spike in block deals after the Q4 results announcement. A number of companies have seen their promoters and large public shareholders paring their stakes in the companies.

On Tuesday, GEF Capital Partners divested a 5.55% stake in Premier Energies for ₹2,629 crore through open market transactions. US-based GEF Capital Partners, through its affiliate South Asia Growth Fund II Holdings LLC, sold a total of 2.5 crore equity shares, representing a 5.55% stake in Premier Energies Ltd, as per the bulk deal data available with the NSE.

Premier Energies Ltd (PEL) is among the largest integrated manufacturers of solar photovoltaic cells and modules (in terms of installed capacity) and specialty solar photovoltaic products in India.

The transaction, valued at around ₹2,629 crore, was executed at an average price of ₹1,051.60 per share.

Besides, private equity firm TA Associates on Tuesday exited AU Small Finance Bank by selling its entire 1.26% stake in the company for ₹714 crore through an open market transaction.

According to the bulk deal data available on the BSE, US-based TA Associates, through its arm TA FDI Investors, sold 93.90 lakh shares, amounting to a 1.26% stake in Jaipur-based AU Small Finance Bank (AU SFB).

The shares were disposed of at an average price of ₹760.07 apiece, taking the deal value to ₹713.78 crore.