Block deals: SBI MF buys 0.54 percent stake in Alkem Laboratories

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The following block and bulk deals took place of both exchanges on February 21.

Alkem Laboratories

Samprada & Nanhamati Singh Family Trust sold 6,41,712 shares (0.54 percent stake) of Alkem Laboratories Ltd in a bulk deal at a Rs 4,680 per share. The total value of the transaction was around Rs 300.85 crore.

SBI Mutual Fund, one of India’s largest asset management companies, bought 6,41,712 shares  of Alkem Laboratories Ltd in a block deal at a trade price of Rs 4,680 per share, with a total transaction value of Rs 300.85 crore.

Alkem Laboratories is a leading Indian pharmaceutical company. The stock closed 2.54 percent lower at Rs 4,600.05. Over the last one year, the stock has fallen around 15 percent. In Q3, Alkem Laboratories posted a 5 percent year-on-year increase in net profit, coming at Rs 626 crore for the December quarter, up from Rs 595 crore in the same period last year. Revenue from operations recorded a marginal 1.5 percent rise to Rs 3,374 crore, compared to Rs 3,324 crore a year ago.

Ken Enterprises

Zeal Global Opportunities Fund purchased 7,77,600 shares of Ken Enterprises Limited in a bulk deal of Rs 57.44 per share. The total value of the transaction was around Rs 4.46 crore. Ken Enterprise shares listed on NSE Emerge platform on February 12 at nearly 10 percent discount to its IPO price. The Maharashtra-based company operates as a design-to-delivery solutions provider for both greige and finished fabrics. It supplies fabrics for leading international brands.