A block deal is defined as a single trade involving at least 5 lakh shares, or a total transaction value of Rs. 10 crores or more.
Following are the two stocks that witnessed fluctuations in the share prices after the companies’ shares exchanged hands through a block deal on 3rd September:
Medi Assist Healthcare Services Limited
With a market capitalisation of Rs. 4,431.3 crores, the shares of India’s leading health benefits administrator surged 4.8 percent on BSE to Rs. 647.7 on Tuesday, as against its previous closing price of Rs. 617.8.
Around 95 lakh shares of Medi Assist Healthcare Services, representing 13.5 percent of the company’s equity, valued at Rs. 580.5 crores, were traded at Rs. 612 per share in a block deal. Promoter Bessemer India is likely to be the seller in this deal. CNBC reported that Bessemer India was looking to sell shares and aimed to raise Rs. 540.94 crores from this transaction.
As of June 2024, Bessemer India Capital Holdings held around 2.5 crore shares, equating to a 29.22 percent stake in Medi Assist Healthcare Services.
Reports also stated that the block deal will trigger a lock-in period until 18th July 2025, during which Bessemer India cannot sell any additional shares.
This stake sale follows Medi Assist’s recent announcement of plans to acquire Paramount Health Services & Insurance TPA for an enterprise value of Rs. 311.8 crores. This acquisition, one of the largest TPA deals in India, will boost Medi Assist’s market share to 36.6 percent in the group segment and 23.6 percent in the health insurance industry, based on premiums managed.
The company’s revenue from operations stood at Rs. 168 crores in Q1FY25, rising by 19.2 percent YoY from Rs. 141 crores in Q1FY24, accompanied by marginal growth in the net profit by 5.5 percent to Rs. 19 crores from Rs. 18 crores, during the same period.
The stock has delivered positive returns of nearly 23.8 percent in the last six months, as well as around 35.7 percent returns year-to-date.
Incorporated in 2000, Medi Assist Healthcare Services Limited is primarily engaged in the business of providing TPA services to insurance companies through its wholly owned subsidiaries, Medi Assist TPA and Raksha TPA.
SignatureGlobal (India) Limited
With a market capitalisation of Rs. 20,170.3 crores, the shares of one of the leading real estate development companies in India slumped 6.5 percent on BSE to Rs. 1,399.6 on Tuesday, as against its previous closing price of Rs. 1,497.5.
Nearly 57.2 lakh shares—representing 4.1 percent of the realty firm’s equity—were traded for Rs. 828.2 crores, at a price of Rs. 1,449 per share. The identities of the buyer and seller remain unknown, prompting speculation among market participants about the reasons behind this substantial transaction.
The company’s revenue from operations stood at Rs. 400.6 crores in Q1FY25, rising by 141.6 percent YoY from Rs. 165.8 crores in Q1FY24, accompanied by a growth in the net profit from a loss of Rs. 7.2 crores to a profit of Rs. 6.8 crores, during the same period.
The company anticipates that its ongoing projects will be completed by FY26, with an expected revenue recognition of nearly Rs. 110 billion over FY25 and FY26. Additionally, the estimated collection from these ongoing projects is around Rs. 65 billion.
The stock has delivered multibagger returns of nearly 213.5 percent in one year, and around 56.2 percent of positive returns year-to-date.
Incorporated in 2000, SignatureGlobal (India) Limited is a real estate development company operating in the National Capital Region (NCR) of Delhi focussed on offering affordable and mid-segment housing.
Signature Global commands a 36 percent market share in Gurugram’s affordable and mid-housing sector.
Written by Shivani Singh
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