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Bulk Deals | Societe Generale picks up 0.6% stake in NIIT, Quant MF buys 0.7% shares in Astra Microwave

NIIT share seems to have reacted to the deal, surging 13.65 percent to close at Rs 287.60 on the NSE.

June 08, 2021 / 08:56 PM IST
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France-based investment bank and financial services company Societe Generale picked up 0.6 percent equity stake in NIIT on June 8. The stock price seems to have reacted to the deal, surging 13.65 percent to close at Rs 287.60 on the NSE.

Societe Generale has acquired 8,54,589 equity shares (0.6 percent of total paid up equity) in learning outsourcing company NIIT at Rs 279.29 per share on the NSE, the bulk deals data showed.

NIIT reported strong growth in quarterly and full year earnings. Profit for the March 2021 quarter stood at Rs 46.5 crore against Rs 0.6 crore in the same period last fiscal and revenue grew by 30 percent to Rs 275.5 crore in the same period. In the full year FY21, profit grew by 134 percent YoY on like-to-like basis to Rs 143 crore and revenue increased by 7 percent to Rs 949.5 crore compared to previous year.

Among other deals, Quant Mutual Fund acquired 6.02 lakh equity shares (representing 0.69 percent of total paid up equity) in defense company Astra Microwave Products at Rs 159.14 per share on the NSE. The stock shot up 14.45 percent to Rs 162.80 today.

Foreign venture capital investor P5 Asia Holding Investments (Mauritius) sold 4,36,117 equity shares in cine media network UFO Moviez India at Rs 94.11 per share on the NSE. P5 Asia Holding offloaded 1.53 percent stake out of 18.52 percent shareholding in the company.

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ICICI Bank sold 24,58,389 equity shares in Den Networks at Rs 57.8 per share on the NSE.

Singh Man Mohan acquired 1,14,116 equity shares in Magadh Sugar & Energy at Rs 246.85 per share, while Solidarity Advisors bought 5 lakh shares in Man Industries at Rs 111.78 per share on the NSE.

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Moneycontrol News
first published: Jun 8, 2021 08:56 pm

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