Two major block deals involving housing finance and pharmaceutical firms led to a decline in their stock prices. The housing finance firm saw a 1.51% drop, while the pharmaceutical company’s shares fell by 1.15%. Promoters of both firms are selling significant stakes, impacting the market, with prices falling up to 7% due to the stake sales.
Stock Price Movement:
In Monday’s trading session, Home First Finance Company India Limited‘s share was down an intraday by 7.08 percent from the previous close of Rs. 1,052.50. The stock opened at Rs. 998.85 and is currently trading at Rs. 1,039.70, with a high of Rs. 1,039.90 and a low of Rs. 978. The market capitalization now stands at approximately Rs. 9,291.55 crore.
Similarly, with a market capitalization of Rs. 1,22,494.63 crores, the shares of Cipla Limited were trading at Rs. 1,516.75 per equity share, down nearly around 1.15 percent from its previous day’s close price of Rs. 1,534.40.
What Happened:
HomeFirst Finance promoters are set to sell a 14.7% stake, valued at Rs 1,267 crore, via block deals. As of 09:15 AM, 18.79 million shares (21% of total equity) changed hands on the BSE.
The floor price for the sale is expected at Rs 968 per share, with sellers including True North Fund V LLP, Orange Clove Investments B V, and Aether (Mauritius).
Furthermore, Cipla promoters are set to sell up to a 1.72% stake, approximately 1.39 crore shares, via block deals, with an estimated deal size of Rs 2,000 crore.
The offer price is expected to be Rs 1,442 per share, a 6% discount to the previous closing price. This follows a previous stake sale in May 2024, when the promoters sold 2.53% for Rs 2,751 crore.
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Financial Highlights:
Home First Finance Company India Limited’s revenue has increased from Rs. 273 crore in Q2 FY24 to Rs. 373 crore in Q2 FY25, which has grown by 36.63 percent YOY. The net profit of Home First Finance Company India Limited has also grown by 24.32 percent, from Rs. 74 crore in Q2 FY24 to Rs. 92 crore in Q2 FY25.
Likewise, Cipla Limited has reported a significant rise in revenue, increasing from Rs. 6,678 crore in Q2 FY24 to Rs. 7,051 crore in Q2 FY25, marking a YOY growth of 5.59 percent. Additionally, the company’s net profit surged by 12.99 percent, jumping from Rs. 1,155 crore in Q2 FY24 to Rs. 1,305 crore in Q2 FY25.
Company Overview of Home First Finance Company India
Home First Finance Company India Limited is a prominent housing finance company focused on the affordable housing segment in India. The company was established in 2010 and headquartered in Mumbai. The company aims to provide accessible home loans primarily to low and middle-income individuals.
Company Overview of Cipla
Cipla Limited is a leading Indian pharmaceutical company that has been at the forefront of healthcare innovation since its establishment in 1935. With its headquarters in Mumbai, Cipla is committed to providing affordable and high-quality medicines across various therapeutic areas, making significant contributions to global healthcare.
Written By – Nikhil Naik
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