In the majority of the block deal transactions on June 24, the Master Trust Bank of Japan (MTBJ) emerged as the key seller, while Mitsubishi UFJ Trust and Banking Corporation (MUTB) was the main buyer.
Block deals are large, privately negotiated transactions between buyers and sellers. | Image: Shutterstock
Block deals on June 24: Shares of several companies, including Reliance Industries (RIL), Asian Paints, Axis Bank, Bharat Electronics Ltd (BEL), Bharti Airtel, HDFC Bank, ICICI Bank, Infosys, among others, traded hands in block deal transactions on Wednesday, June 24.
Furthermore, Mahindra & Mahindra, Power Grid Corporation of India, Sun Pharmaceutical Industries, Tata Consultancy Services (TCS), Titan Company, and others, also witnessed their stocks changing hands in open market transactions.
In the majority of the open market transactions on June 24, the Master Trust Bank of Japan (MTBJ) emerged as the key seller, while Mitsubishi UFJ Trust and Banking Corporation (MUTB) was the main buyer.
Notably, MTBJ operates as a joint venture, in which MUTB is the largest single shareholder and parent company.
Block deals are large, privately negotiated transactions between buyers and sellers. It happens on a separate block deal window provided by the National Stock Exchange (NSE) and the BSE exchanges.
Block deals on June 24
Asian Paints: On Wednesday, MTBJ sold 1,00,248 shares of Asian Paints at a trade price of ₹2,661.20 per unit, according to NSE block deal data, and the same was purchased by MUTB.
Axis Bank About 1,84,107 shares of Axis Bank changed hands, at a trade price of ₹1,363.50 apiece. While MTBJ was the seller, MUTB was the buyer.
Bajaj Finance: MTBJ sold 3,67,127 equity shares of Bajaj Finance at ₹962.40 per share, and MUTB bought the same in open market transactions.
Bharat Electronics: On June 24, BEL saw 8,37,516 of its shares swapping hands at a trade price of ₹420 per equity share, with MTBJ as the seller and MUTB as the purchaser.
Bharti Airtel: MUTB bought 2,18,882 shares of the company sold by MTBJ at ₹1,901.60 per unit on Wednesday, June 24.
HDFC Bank: About 10,13,597 shares of HDFC Bank changed hands on June 24, with MTBJ selling them for ₹774.65 apiece to MUTB.
Hindustan Unilever: HUL witnessed 1,25,199 of its stocks being sold by MTBJ for ₹2,160.10 per equity share to MUTB on Wednesday.
ICICI Bank: MTBJ sold 9,67,959 ICICI Bank shares for a trade price of ₹1,338.30 apiece to MUTB.
Infosys: About 6,13,120 stocks of the IT firm changed hands, with MUTB purchasing them from MTJB for ₹1,029.30 per equity share.
Larsen & Toubro: MUTB bought 1,22,583 shares of L&T sold by MTBJ at ₹4,179.40 per unit on Wednesday.
Mahindra & Mahindra: M&M saw 1,28,377 of its shares changing hands at a trade price of ₹3,037.30 apiece, with MTBJ being the seller and MUTB being the purchaser.
Power Grid Corporation of India: MTBJ sold 10,28,059 stocks of the company for a trade price of ₹291.95 apiece to MUTB.
Reliance Industries: On Wednesday, MTBJ sold 7,19,579 shares of RIL at a trade price of ₹1,309.50 per unit, and the same was purchased by MUTB.
Sun Pharmaceutical Industries: About 1,54,424 stocks of the company changed hands, with MUTB purchasing them from MTJB for ₹1,868 per equity share.
Tata Consultancy Services: MUTB purchased 1,83,328 shares of the IT firm sold by MTBJ at ₹2,059.60 per unit on June 24.
Titan Company: MTBJ sold 81,064 of its stocks for a trade price of ₹4,305.30 apiece to MUTB.
NDR INVIT Trust: Investcorp’s alternate investment fund, INVESTCORP INDIA WAREHOUSING IFSC TRUST, offloaded 1,46,25,000 shares of NDR INVIT Trust for ₹137 apiece on June 24.
NDR Warehousing Pvt Ltd picked up 1,00,00,000 of its stake, and NDR Universal Enterprises bought 46,25,000 shares at the same trade price.
Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.
About The Author
Abha Raverkar is a post-graduate in economics from Christ University, Bengaluru. She has a strong interest in the markets and loves to unravel the nitty-gritties of the latest happenings in the world of markets, business, and the economy.
