Following are the two stocks that witnessed fluctuations in their share prices in response to the reports of Foreign Institutional Investors (FIIs) likely to reduce their stake, on Wednesday, July 10th:
Mankind Pharma Limited
In Wednesday’s trading session, the shares of India’s fourth largest pharmaceutical company surged by 5.3 percent to Rs. 2,215 on BSE, as against its previous closing price of Rs. 2,104, with a market cap of Rs. 85,892.2 crore.
Mankind Pharma witnessed a transaction valued at Rs. 762.6 crore through a block deal. This transaction involves Hema CIPEF which intends to sell approximately 37 lakh shares, equating to a 0.9 percent stake in the company with the issue price fixed at Rs. 2,061 per share.
Previously, as per the latest shareholding data from the BSE, Hema CIPEF(I) Limited, an affiliate of the US-based Capital Group, held nearly 88.96 lakh equity shares in Mankind Pharma, constituting a 2.22 percent stake.
In December 2023, Capital Group divested a 3.14 percent stake in Mankind Pharma.
Mankind Pharma witnessed a 19 percent year-on-year increase in revenue from operations, climbing from Rs. 2,052.7 crore in Q4 FY22-23 to Rs. 2,441 crore in Q4 FY23-24. Similarly, the after-tax profit grew by 62.3 percent from Rs. 293.7 crore to Rs. 476.6 crore, during the same period.
Mankind Pharma Limited, one of the largest pharmaceutical company in India, is principally engaged in the manufacturing and trading of a wide range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.
Delhivery Limited
In Wednesday’s trading session, the shares of India’s largest fully-integrated logistics services provider surged by 2.8 percent to Rs. 403.65 on BSE, as against its previous closing price of Rs. 392.35, with a market cap of Rs. 28,678 crore.
A block deal involving nearly 2.34 crore equity shares, or 3.17 percent of the total equity, exchanged hands at an average price of Rs. 388.45 per share, resulting in a reported total deal value of Rs. 910.2 crore.
Today, reports suggest that Canada Pension Plan Investment Board (CPPIB) is planning to divest its entire 3.18 percent stake in Delhivery through block deals. The issue size is estimated at around Rs. 886 crore, and prices range from Rs. 378 to Rs. 389 per share.
According to the latest March 2024 shareholding data, CPPIB held around 4.38 crore equity shares in Delhivery, constituting a 5.96 percent stake.
However, on April 25, CPPIB reduced its stake by 2.77 percent in Delhivery via block deals, selling 2 crore shares valued at more than Rs. 900 crore. During this Delhivery block deal, notable buyers included Fidelity Funds, HSBC, and the Smallcap World Fund.
Delhivery witnessed an 11.6 percent year-on-year increase in revenue from operations, climbing from Rs. 1,859.6 crore in Q4 FY22-23 to Rs. 2,075.5 crore in Q4 FY23-24. Similarly, the net loss reduced from Rs. 158.7 crore to Rs. 68.5 crore, during the same period.
Incorporated in 2011, Delhivery Limited provides a wide range of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services.
The company is in the business of warehousing and last-mile logistics and is also involved in designing and deploying logistics management systems, providing logistics and supply chain consulting/advice, providing inbound/procurement support and other activities of a similar nature.
Written by Shivani Singh
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