The shares of HDFC Bank gave a negative reaction to the block deal, in which Morgan Stanley and Citigroup bought shares of HDFC Bank worth over Rs 755 crore through an open market transaction.
According to the block deal data available on the BSE, New York-headquartered financial services companies Morgan Stanley and Citigroup, through their affiliates, purchased 43.75 lakh shares of the Mumbai-based bank.
HDFC Bank block deal
The aggregate transaction value of Rs 755.29 crore was achieved when the shares were acquired at an average cost of Rs 1,726.2 each.
The same number of shares were divested by BNP Paribas' arm, BNP Paribas Financial Markets, through two separate block deals at Rs 1,726.2 apiece on the BSE, according to exchange data.
Financial services and investment banking are provided by BNP Paribas. Last week, Paris-based BNP Paribas offloaded shares of HDFC Bank for Rs 543.27 crore.
HDFC Bank shares dropped 1.12 per cent at 03.09 pm in trading session at Rs 1,663.10 per share on the NSE (National Stock Exchange).
Eris Lifesciences block deak
In a different deal on the NSE, Motilal Oswal Financial Services Ltd. (MOFSL) paid Rs 281 crore for an open market acquisition of a 1.53 percent share in Eris Lifesciences.
MOFSL purchased 20.79 lakh shares, or 1.53 percent of Eris Lifesciences, according to NSE data.
The deal value increased to Rs 280.70 crore when the shares were purchased at an average price of Rs 1,350.18 each.
The shares of Eris Lifesciences were trading at Rs 1,354.65 per share on the national stock exchange (NSE).
Block deal in JK laxmi cement
HDFC Mutual Fund paid over Rs 66 crore on the open market to acquire 8.44 lakh shares, or 0.72 percent, in JK Lakshmi Cement in another deal that was listed on the BSE.
At Rs 785 per share on average, the shares were acquired, bringing the deal value to Rs 66.25 crore.On the exchange, it was impossible to find any information about additional sellers of JK Lakshmi Cement shares.
The share price of JK Lakshmi Cement increased by 0.048 per cent on Friday, trading at Rs 791.55 per share on the BSE.
