TD Power Systems shares fall 8% on block deals

Shares of TD Power Systems Ltd. dropped by almost 8% after the company witnessed significant block deals in early trading on Thursday, May 22. A total of 1.3 crore shares, equivalent to 8.1% of the company’s equity, were exchanged, causing the stock to hit an intraday low of ₹455 per share. By 10 am, the shares had slightly recovered, trading at ₹471.3 each, reflecting a 4.55% decline. The day's trading volume highlighted the intense market activity surrounding TD Power, which has gained 5.6% in value so far this year.

The company's shareholding structure reveals that promoter Nikhil Kumar held an 11.18% stake at the end of the March quarter, while Saphire Finman Services LLP owned 15.34%. Public shareholders, including India's Domestic Mutual Funds, collectively hold 23.5% of the company, with institutions like UTI MF, HSBC MF, and HDFC MF among the stakeholders. Additionally, Goldman Sachs owns 3.11% and Oxbow Master Fund has a 4.13% stake, while retail investors with authorised share capital up to ₹2 lakh control 14.24%.

TD Power recently reported a robust financial performance for the fourth quarter, with net profits surging by 82.8% to ₹53 crore, and revenue climbing 31.9% to ₹348 crore compared to the previous year. The company's EBITDA increased by 56.2% to ₹65.3 crore, and margins expanded to 18.8%. These financial outcomes suggest a positive trajectory for TD Power, despite Thursday’s significant market movement following the block deals. The details of the buyers and sellers in these transactions have not yet been disclosed.