Block deals: Nykaa, Ambuja Cements shares rise 4% each on heavy turnovers
Shares of Nykaa climbed 3.96 per cent to hit a high of Rs 218.75 on BSE. Adani group's Ambuja Cements advanced 4.23 per cent to Rs 659.70.
- Aug 23, 2024,
- Updated Aug 23, 2024 9:59 AM IST
Shares of FSN E-Commerce Ventures Ltd (Nykaa) and Ambuja Cements Ltd jumped 4 per cent each in Friday's trade on heavy turnovers amid likely block deals on the counters. Shares of Nykaa climbed 3.96 per cent to hit a high of Rs 218.75 on BSE. Adani group's Ambuja Cements advanced 4.23 per cent to Rs 659.70.
A total of 6,79,56,000 Ambuja Cements shares changed hands in block deals on NSE, valuing Rs 4,250.65 crore. Nykaa, on the other hand, saw Rs 864.40 crore turnover on BSE. In the case of Nykaa, there were reports that Harindarpal Singh and associates, a pre-IPO investor, was looking to offload 1.4 per cent stake in the company worth Rs 809 crore.
Singh was an early investor in Indian billionaire Falguni Nayar’s fashion giant FSN E-Commerce Ventures, which owns the fashion and beauty platform Nykaa. He founded The Caravel Group, a global conglomerate primarily engaged in resources trading, maritime services, and asset management. By the end of June 2024 quarter, Singh held a 6.4 per cent stake in Nykaa's parent as on June 30.
In the case of Ambuja Cements, the Adani group was said to be looking to sell a 2.84 per cent stake in the cement maker for Rs 4,200 crore. Holderind Investments, an Adani Group entity, was looking to sell 69.96 million shares at a floor price of Rs 600 per share, which was at 5.19 per cent discount to Thursday’s closing price of Rs 632.90 apiece.
Holderind Investments held 1,25,31,56,361 shares or 50.90 per cent stake in Ambuja Cements at the end of June quarter. In total, three promoter entities owned 1,73,13,37,052 shares or 70.33 per cent stake in the cement maker as on June 30.
Shares of FSN E-Commerce Ventures Ltd (Nykaa) and Ambuja Cements Ltd jumped 4 per cent each in Friday's trade on heavy turnovers amid likely block deals on the counters. Shares of Nykaa climbed 3.96 per cent to hit a high of Rs 218.75 on BSE. Adani group's Ambuja Cements advanced 4.23 per cent to Rs 659.70.
A total of 6,79,56,000 Ambuja Cements shares changed hands in block deals on NSE, valuing Rs 4,250.65 crore. Nykaa, on the other hand, saw Rs 864.40 crore turnover on BSE. In the case of Nykaa, there were reports that Harindarpal Singh and associates, a pre-IPO investor, was looking to offload 1.4 per cent stake in the company worth Rs 809 crore.
Singh was an early investor in Indian billionaire Falguni Nayar’s fashion giant FSN E-Commerce Ventures, which owns the fashion and beauty platform Nykaa. He founded The Caravel Group, a global conglomerate primarily engaged in resources trading, maritime services, and asset management. By the end of June 2024 quarter, Singh held a 6.4 per cent stake in Nykaa's parent as on June 30.
In the case of Ambuja Cements, the Adani group was said to be looking to sell a 2.84 per cent stake in the cement maker for Rs 4,200 crore. Holderind Investments, an Adani Group entity, was looking to sell 69.96 million shares at a floor price of Rs 600 per share, which was at 5.19 per cent discount to Thursday’s closing price of Rs 632.90 apiece.
Holderind Investments held 1,25,31,56,361 shares or 50.90 per cent stake in Ambuja Cements at the end of June quarter. In total, three promoter entities owned 1,73,13,37,052 shares or 70.33 per cent stake in the cement maker as on June 30.