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Bulk sales hitch a ride on soaring stock mkt
Mint Mumbai
|August 21, 2023
A Mint analysis showed that key stakeholders, including promoters, have sold shares worth over ₹1.35 trillion through bulk and block deals during the calendar year so far
A Mint analysis showed that key stakeholders, including promoters, have sold shares worth over ₹1.35 trillion through bulk and block deals during the calendar year so far, out of which deals worth over ₹92,800 crore were concluded in the first five months of FY24, which is more than double that of the same period last year.
“A strong market rally driven by the resumption of robust FII (foreign institutional investor) flows, sustained domestic inflows, especially in small-cap funds, led to a valuation re-rating across the board, and investors looking for transactions where they could deploy significant ticket sizes in one go have contributed to the surge in share sales," said Subhrajit Roy, India head, global capital markets, Bank of America.
In 2023 so far, Adani Group promoters offloaded stakes worth around ₹37,441 crore via block and bulk deals in five group firms.
The Vedanta
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