Five stocks -- Indus Towers Ltd, PB Fintech Ltd, EID Parry India Ltd, Tata Consumer Products Ltd and Godrej Properties Ltd -- saw a huge spurt in volumes on Bombay Stock Exchange on the Budget day.
Indus Towers stock saw huge volumes with around 22.84 crore volumes and turnover of around Rs 4,841 crore. The stock saw a huge block deal, where around 19.77 crore shares or 7.3 percent stake of the company changed hands, according to Bloomberg.
Earlier Moneycontrol reported that the US private equity firm KKR and Canada Pension Plan Investment Board (CPPIB) have initiated a $465 million block deal to exit from Indus Towers. KKR aims to sell its entire 4.85 percent stake for $323 million, and CPPIB plans to sell a 2.14 percent stake for $142 million, leaving the Canadian firm with just a 0.5 percent holding.
PB Fintech ranked second on the BSE in terms of substantial volumes, reaching around 2.46 crore, with a turnover of Rs 2,442 crore. Showing positive momentum in recent sessions, the stock surpassed its issue price of Rs 980 per share on January 31, marking the first time after reporting its inaugural quarterly profit.
EID Parry India Ltd saw a volume of 10.7 lakh with a turnover of Rs 68 crore. The stock gained in six out of seven sessions ahead of its December quarter earnings, due on February 6. It closed over five percent higher on February 1. So far in 2024, it has jumped around 18 percent.
Tata Consumer and Godrej Properties also saw huge volumes with 10.30 lakh and 5.6 lakh, respectively. Both stocks' turnover stood at Rs 116 crore and Rs 71 crore, respectively.
Indian markets saw huge volatility on February 1, with Sensex and Nifty opening nearly 0.5 percent higher but erasing all the gains after the budget. Both Benchmark Sensex and Nifty closed at around 0.15 percent lower while broader markets BSE MidCap and BSE SmallCap ended at 0.4 percent and 0.2 percent, respectively.
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