Synopsis:
Societe Generale sparked interest in financial sector counters after executing over Rs. 200 crore worth of trades, prompting attention on select lending and banking names witnessing notable institutional activity.
A group of financial sector counters drew investor interest after a major global institution executed large trades worth more than Rs. 200 crore in the open market. The transactions, spread across lending and banking names, signalled selective accumulation even as some funds simultaneously exited their positions at similar price points.
Sammaan Capital
Sammaan Capital operates as a lending and financial services platform extending credit to individuals, firms, institutions, and cooperative societies. Its financing activities cover home construction, renovation, purchase of residential units, and acquisition of land. The company also supports projects related to drainage systems, electrical setups, and other real estate-linked development requirements through structured loan products.
Sammaan Capital, with a market cap of Rs. 14,728.29 crore, previously closed at Rs. 178.15. The stock opened slightly higher at Rs. 179.45 and touched an intraday high of Rs. 179.95, marking a rise of around 1.01 percent from the previous close to the day’s high.
The company witnessed a buy trade at Rs. 176.97 per share, where Societe Generale acquired 88.24 lakh shares amounting to Rs. 156.16 crore. At the same price, Citigroup Global Markets Mauritius Pvt Ltd sold 37.42 lakh shares worth Rs. 66.22 crore, while Morgan Stanley Asia Singapore PTE exited 50.83 lakh shares valued at Rs. 89.95 crore.
Tata Capital
Tata Capital functions as an integrated financial services provider serving retail borrowers, home loan customers, SMEs, and corporates through a nationwide network of branches. Its portfolio spans consumer loans, housing finance, SME and commercial lending, microfinance, cleantech funding, debt syndication, private equity, and credit card services.
Tata Capital, which carries a market cap of Rs. 1,37,470.08 crore, ended the previous session at Rs. 323.95. The stock opened at Rs. 323.05 and hit a high of Rs. 324.75, translating into a modest intraday gain of about 0.25 percent from the prior close to the peak.
The stock recorded a buy trade at Rs. 325.2 per share, where Societe Generale picked up 11.53 lakh shares worth about Rs. 37.50 crore. At the same price, Marshall Wace Investment Strategies–Eureka Fund sold an identical 11.53 lakh shares valued at Rs. 37.50 crore.
Axis Bank
Axis Bank provides a full spectrum of banking and financial services across retail, corporate, MSME, agricultural, and treasury operations. Its offerings include loans, deposits, cards, payment services, wealth management, insurance and mutual fund distribution, government bond placements, trade finance, guarantees, forex services, derivatives, and cash management solutions.
Axis Bank, with a market cap of Rs. 3,82,756.57 crore, had a previous close of Rs. 1,224.90. The stock opened at Rs. 1,227.05 and climbed to an intraday high of Rs. 1,240, resulting in an uptick of nearly 1.23 percent from the earlier closing price.
A significant trade was recorded at Rs. 1,221.6 per share, where Societe Generale acquired 91,177 shares amounting to about Rs. 11.14 crore. The same number of shares was sold by BOFA Securities Europe SA, completing the matched transaction at the same price.
Written by Manan Gangwar
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