PNB Housing, Kalyan Jewellers, Alkem Labs' block deals keep markets abuzz

a quick timeline of the key block deals that took place recently which made waves across sectors.

The stock markets witnessed a flurry of large block deals worth several crores that has kept the stock markets abuzz lately.

Investors and analysts closely watched the activity as shares of PNB Housing Finance, Kalyan Jewellers, Zomato, Alkem Laboratories, ADF foods among others saw significant volume movement, with multiple deals contributing to the trading buzz.

Here’s a quick timeline of the key block deals that took place recently which made waves across sectors.

PNB Housing Finance

On August 22, shares of PNB Housing Finance fell over 3 percent after a mega block deal of over Rs 715 crore. Market sources indicated that Asia Opportunities V (Mauritius) could be the likely seller in this transaction, though official confirmation was awaited. Around 81 lakh shares, making up a 3.2 percent stake in the lender, changed hands at a floor price of Rs 873 apiece. (Full Report)

Kalyan Jewellers

On August 22, the counter rose nearly 6 percent after multiple block deals worth Rs 3,585 crore Kalyan Jewellers took place with Highdell Investment, a Warburg Pincus affiliate, selling its part stake to promoter Trikkur Sitarama Iyer Kalyanaraman. (Full Report)

Alkem Laboratories

On August 22, the scrip traded under selling pressure after shares worth as much as Rs 487 crore were sold in block deals with the company's promoters being the likely sellers. Around 8.5 lakh shares, making up a 0.7 percent stake in the drugmaker, changed hands at a floor price of Rs 5,732 apiece. (Full Report)

Eris Lifesciences

On August 22, the stock was up over 2 percent after 99 lakh shares, or 7.27 percent equity, changed hands in an early trade block deal at Rs 1201 per share at Rs 1187 crore. (Full Report)

Zomato

On August 20, Zomato's shares worth Rs 5,438.50 crore were sold in a block deal with Antfin Singapore Holding, a subsidiary of the Alibaba Group, being the likely seller. As much as 21 crore shares, representing a 2.4 percent stake in the online food delivery platform changed hands in the block deal. (Full Report)

Cyient

On August 20, the board of the IT firm approved sale of 14.5 percent stake in subsidiary Cyient DLM through block deal at a likely floor price of Rs 748.65 per share. (Full Report)

ADF Foods

On August 20, a block deal of a 4 percent equity worth Rs 100 crore was announced in early trade. (Full Report)

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