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HomeMarket NewsThese two stocks could see a reaction as details of their block deals emerge
Nexus Venture and GQG Partners sold their respective stakes in Delhivery and ITC Hotels respectively. Both still continue to hold stake in their respective holdings.
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Shares of Delhivery Ltd. and ITC Hotels Ltd. are in focus on Thursday, April 9, after details emerged of the recent block deals.
While 1.6% of Delhivery's outstanding equity changed hands in the block deal, ITC Hotels saw a block where 0.6% of its overall equity was exchanged.
Delhivery
Nexus Ventures sold 1.6% stake in the firm at ₹442 per share. At the end of the December quarter, it held 4.48% stake in Delhivery.
ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Edelweiss Mutual Fund, SBI Mutual Fund were among the buyers in the block deal.
The stock has risen 88% in the past 12 months. However, it is still 6.4% below its IPO price of ₹487, when it listed on the stock exchanges in 2022.
ITC Hotels
GQG Partners sold 0.6% equity or 1.28 crore shares in ITC Hotels at ₹152.69 apiece. Buyers in the transaction remain unknown.
At the end of the third quarter, GQG Partners held 1.97% stake in the firm, as per data available on the exchanges.
The stock is down 42% from its 52-week high of ₹261 apiece.
Delhivery shares ended the previous session 3.6% up at ₹457.8 apiece. Meanwhile, ITC Hotels shares ended the previous session 3.9% up at ₹152.5 apiece.
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