Shares of Northern Arc Capital Ltd jumped 11% on June 23 after ace investor Madhusudan Kela acquired shares of the firm on June 20, via block deals, through his fund Cohesion MK Best Ideas Sub-Trust.
The fund bought 10 lakh shares of the company in the block deals at a price of Rs 208.83 apiece, showed exchange data.
Northern Arc is a leading player amongst the country's diversified NBFCs, with a business model diversified across offerings, sectors, products, geographies and borrower segments. It provides access to credit to under-served households and businesses directly and indirectly through Originator Partners.
At 11:52 am on June 23, Northern Arc Capital Ltd's shares were trading 11% higher at Rs 230.4 apiece. The 52-week low of the stock is Rs 141.47 and 52-week high is Rs 350. The market capitalisation of the stock is Rs 3,700 crore.
Meanwhile, BNP Paribas and Abu Dhabi-based Cohesion Asset Management purchased 18.67 lakh shares or 1.16% stake in Northern Arc Capital in the price range of Rs 202.46-208.83 per share.
Asset management firm 360 ONE on Friday divested a 12.02% stake in Northern Arc Capital for Rs 382 crore through open market transactions.
According to the bulk deal data on the NSE, Mumbai-based 360 ONE through its three affiliates sold a total of 1.94 crore shares or 12.02 per cent stake in Northern Arc Capital.
The shares were disposed in the price range of Rs 195.71-198.74 apiece, taking the aggregate deal value to Rs 382.14 crore.
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