Block Deals Trigger Sharp Moves in Paytm, Fortis, GE Vernova T&D India and Other Stocks

Mumbai, November 25: A number of block deals on November 24 has led to higher trading activity today in many mid-cap and large-cap stocks. Stocks such as Paytm, Fortis, GE Vernova T&D India, and others saw many institutional investors sell stakes in such stocks, while many stocks saw fresh investments.

Heavy Stake Sales in Paytm, Fortis Healthcare and GE Vernova T&D India

Two major institutional investors, BNP Paribas Financial Markets and Integrated Core Strategies (Asia), together sold more than 2% stake each in Paytm, Fortis Healthcare and GE Vernova T&D India through open market transactions. As of 9:30 AM, Paytm share price was trading lower by 0.21%, or 2.70 points, at ₹1,258. Fortis Healthcare share price was down by 0.39% at ₹918.60, while GE Vernova T&D India share price was up by 1.34% at ₹2,902.40.

Fortis Healthcare:  

• BNP Paribas Financial Markets sold 1.19 crore shares at ₹921.85 per share for ₹1,100.5 crore.
• Integrated Core Strategies (Asia) sold 52.81 lakh shares at ₹921.93 per share for ₹486.88 crore.
• Together, the sold shares accounted for 2.28% of Fortis Healthcare’s equity.

GE Vernova T&D India: 

• BNP Paribas Financial Markets sold 38.3 lakh shares at ₹2,866.23 per share for ₹1,098 crore.
• Integrated Core Strategies (Asia) sold 14.18 lakh shares at ₹2,869.13 per share for ₹406.86 crore.
• Together, the transactions represented 2.05% of the company’s equity.

Paytm: 

• Integrated Core Strategies (Asia) sold 32.55 lakh shares at ₹1,259.85 per share for ₹410.11 crore.
• BNP Paribas Financial Markets sold 1.05 crore shares at ₹1,260.06 per share for ₹1,330.7 crore.
• Together, the sold shares accounted for 2.16% stake of the company’s equity.

Heavy Buying in Karnataka Bank

Karnataka Bank saw investment by ace investor Aditya Kumar Halwasiya. He bought 45 lakh shares at ₹198.87 per share, amounting to ₹89.49 crore. As of 9:30 AM, Karnataka Bank share price was up by 2.13%, or 4.24 points, and was trading at ₹203.08.

Promoter Selling Continues in AAA Technologies

AAA Technologies saw further selling by its promoters. Promoter Anjay Ratanlal Agarwal sold an additional 8.85 lakh shares, representing 6.9% equity, at ₹89.35 per share for ₹7.9 crore. As of 9:30 AM, AAA Technologies share price was up by 2.27%, or 2.03 points, and was trading at ₹91.28.

The stake sale and fresh investments in these companies have triggered trading activity. Investors will be closely tracking more such block deals for further trading cues.

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