Data Patterns soars 8% after shares worth Rs 1,100 crore change hands

A foreign entity was the seller and the stake was bought by a clutch of foreign and domestic institutional buyers, CNBC-tV18 reported citing sources.

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Shares of Data Patterns surged over 8 percent on year after a large deal worth Rs 1,100 crore changed hands in a block deal on February 16.

At 09.26 am, shares of Data Patterns were trading at Rs 1,972.20 on the NSE. The block deal also tipped off a spike in trading volumes as 61 lakh shares changed hands so far, sharply higher than the one-month daily traded average of 1 lakh shares.

Around 60 lakh shares of Data Patterns, representing a 10.7 percent stake in the company, changed hands in a block deal worth.

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While Moneycontrol could not immediately identify the parties involved in the deal, CNBC-TV18 reported citing sources that a foreign entity was a seller. The sold stake was bought by a clutch of foreign and domestic institutional buyers, the report stated.

The company recently released its Q3 earnings which saw its consolidated net profit jump 53 percent on year to Rs 50.97 crore. Revenue grew nearly 25 percent year-on-year to Rs 139.51 crore for the December quarter.

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