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HomeMarket NewsBuzzing Stocks: Two stocks reacting strongly to buying interest in block deals
Goldman Sachs Bank Europe SE acquired 1.13 crore equity shares, representing a 0.18% stake in the company, at a transaction value of ₹210.4 crore. The shares were purchased from Friale Fund IV LLC at a price of ₹185.50 apiece.
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Shares of Billionbrains Garage Ventures, the parent company of stockbroking platform Groww, and Go Digit General Insurance were trading higher on Friday, June 5, following a series of block deals involving institutional investors.
Groww
gained after Goldman Sachs Bank Europe SE picked up shares worth over ₹210 crore through an open market transaction on June 4.
According to exchange data, Goldman Sachs Bank Europe SE acquired 1.13 crore equity shares, representing a 0.18% stake in the company, at a transaction value of ₹210.4 crore.
The shares were purchased from Friale Fund IV LLC at a price of ₹185.50 apiece.
Following the transaction, Billionbrains Garage Ventures shares rose 3.11% to ₹196.08 on the NSE.
Go Digit General Insurance
Shares of Go Digit General Insurance also witnessed buying interest and traded higher with above-average volumes.
Aditya Birla Sun Life Mutual Fund acquired 21.66 lakh shares worth approximately ₹65 crore, while JPMorgan (Taiwan) Eastern Technology Fund purchased 11.66 lakh shares valued at around ₹35 crore.
The seller in the transaction was Peak XV Partners Growth Investments III, which offloaded 33.33 lakh shares, equivalent to a 0.36% stake, for a total consideration of ₹100 crore.
The deal was executed at a price of ₹300 per share.
Other block deals
In another transaction, Kedaara Capital Public Markets Fund I increased its stake in Inventurus Knowledge Solutions by purchasing an additional 2 lakh shares from Scott Hayworth for ₹33.09 crore at ₹1,654.90 per share. The deal follows a previous transaction between the same parties in the prior session involving 1.55 lakh shares.
Separately, OHM Investment Corporation acquired 3.14 lakh shares, or a 0.51% stake, in Panacea Biotec for ₹15.52 crore at ₹493.07 per share.
Panacea Biotec shares were locked in the 20% upper circuit at ₹520.30 on Friday, extending a strong rally and breaking out of a consolidation phase that had lasted for more than a year.
