BNP Paribas’ recent investments have put the spotlight on these two companies that it picked up stakes in, and the move suggests that the global banking giant sees potential in their growth stories.
A block deal is a large, negotiated transaction in the stock market where a big chunk of shares is bought or sold between two parties at a set price, usually through a special trading window on the stock exchange. These deals are typically made by big investors like mutual funds or institutional players who want to move large volumes without causing too much impact on the market. Watching block deals can give investors clues about major moves or shifts happening behind the scenes in companies.
Here are the two stocks in focus in which BNP Paribas has acquired stakes:
Schaeffler India ltd
Schaeffler India Ltd is engaged in the development, manufacturing and distribution of high-precision roller and ball bearings, engine systems and transmission components, chassis applications, clutch systems and related machine-building manufacturing activities.
With a market cap of Rs 64,544 crore, the shares of Schaeffler India Ltd gained 0.42 per cent in today’s trading session and reached a high of Rs 4182.40, when compared to its previous day closing price of Rs 4164.90 , the shares have given a return of 38.5 per cent over the last 3 years and 433 per cent over the last 5 years.
BNP Paribas Financial Markets recently bought 24,722 shares of Schaeffler India, paying an average of Rs 4,105.65 per share, aggregating to Rs 10.15 crore . The shares were sold by Copthall Mauritius Investment Ltd. The move signals growing interest from a major global investor, adding a bit more attention to the company’s outlook.
Groww (Billionbrains Garage Ventures ltd)
Groww, which was incorporated in 2017, is a Bengaluru-based fintech company that provides retail investors a direct-to-customer digital investment platform, providing multiple financial products and services.
With a market cap of Rs 87,165 crore, the shares of Billionbrains Garage Ventures Ltd gained more than 17 per cent in today’s trading session and reached a high of Rs 153.50. When compared to its previous day’s closing price of Rs 130.94 , the shares were listed at the price of Rs 114 with a 14 per cent premium on the issue price.
BNP Paribas Financial Markets has bought 14,91,000 shares of Billionbrains Garage Ventures Ltd at an average price of Rs 122 each, aggregating to Rs 18.19 crore. The shares were offloaded by UBS AG. This large trade suggests that BNP Paribas sees potential in the company, putting a bit more spotlight on its future prospects.
Written by Leon Mendonca.
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