The share price of these small-cap stocks gained up to 1 percent after Societe Generale bought stakes in these firms. Established in 1864, Societe Generale is a leading French multinational banking and financial services company. It ranks as the third-largest bank in France by total assets and the sixth-largest in Europe for the same.
Listed below are the 2 stocks in which Societe General has bought stakes as per the bulk/block deal:
EFC (I) Limited
With a market capitalization of Rs. 2,881 crores, the shares of EFC (I) Limited opened at Rs. 590 and during the trading session, the shares hit a high of Rs. 605, gaining around 1 percent and closed the day at Rs. 578 apiece.
According to BSE’s bulk deal data, Societe General has bought 3,50,000 equity shares or 0.70 percent stake in EFC (I) Limited at an average price of Rs 565 apiece. The transaction was valued at over Rs. 19.77 crores.
Reviewing the financials of EFC (I) Limited on a year-on-year basis, the revenues rose by 306 percent from Rs. 103 crores in FY23 to Rs. 419 crores in FY24. In the same time frame, the net profits increased from Rs. 4 crores to Rs. 63 crores demonstrating a tremendous 1,475 percent increase.
EFC (I) Ltd, also known as EFC Limited, is a leading real estate enterprise that offers transformative managed office space solutions for entrepreneurs, startups, and businesses in India.
Religare Enterprises Limited
With a market capitalization of Rs. 8,115 crores, the shares of Religare Enterprises limited tumbled down by 4.5 percent closing at Rs 578.85 a piece on Tuesday’s market hours. Today’s low price of the stock is Rs 244.35 a piece and the previous closing price of the stock is Rs 256.05 a piece.
According to NSE’s bulk deal data, Societe General has bought 50,50,000 units of equity shares or equivalent to 1.53 percent stake in Religare Enterprises Limited at an average price of Rs 239 apiece.
Reviewing the financials of Religare Enterprises Limited on a year-on-year basis, the revenues rose by 33.2 percent from Rs 4,679 crores in FY23 to Rs 6,235 crores in FY24. In the same time frame, the net profits decreased from Rs 3,169 crores to Rs 347 crores demonstrating a tremendous 89 percentage decrease.
Religare Enterprise Ltd, incorporated in 1984, is a diversified financial services company with a presence all over India, operating through its subsidiaries. The Co. provides loans to SMEs, Affordable Housing Finance, Health Insurance and Retail Broking
Written By Zahal
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
