Shares of state-run Bharat Heavy Electricals Ltd. (BHEL) recovered from the lows of the session on Wednesday, October 23 after a large deal took place in the stock. However, the recovery was short-lived.
Shares changed hands at an average price of ₹227 apiece, taking the total transaction value to ₹402 crore.
Buyers and sellers in the transaction are not officially known.
India’s mutual funds marginally increased their stake in BHEL at the end of the September quarter to 5.82% from 5.36% at the end of June.
However, India’s largest insurance company, Life Insurance Corporation of India (LIC) cut its stake during the quarter to 6.72% from 7.33% at the end of June.
BHEL now has close to 19.6 lakh small retail shareholders, or those with authorised share capital up to ₹2 lakh. That figure is higher than the 18.5 lakh in June. In percentage terms, the retail stake has increased marginally to 10.87% from 10.72% last quarter.
Foreign Portfolio Investors too have increased their stake in BHEL to 9.49% from 9.1% at the end of June.
Shares of BHEL, which at one point during the session were down 3%, are now trading 1.6% lower at ₹229.1. The state-run company is down 31% from its recent high of ₹335.
Content retrieved from: https://www.cnbctv18.com/market/bhel-share-price-block-deal-402-crore-buyer-seller-unknown-shareholding-returns-19497397.htm.
