Bulk Deals | SBI MF, Zulia Investments, Smallcap World Fund and Societe Generale pick 4.64% stake in HDFC AMC

Despite stake sale by Abrdn, HDFC AMC shares topped the buying list in NSE F&O segment, rising 11.23 percent to Rs 2,104.90

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Promoter entity Abrdn Investment exited HDFC Asset Management Company by selling entire 10.2 percent stake on June 20. But SBI Mutual Fund, Zulia Investments, Smallcap World Fund and Societe Generale were buyers for some of those shares.

As per the bulk deals data available with exchanges, UK-based investment firm Abrdn Investment Management, formerly known as Standard Life, has sold 2.18 crore shares in HDFC AMC via open market transactions at an average price of Rs 1,873 per share. The entire stake sale was worth Rs 4,079.07 crore.

However, SBI Mutual Fund, Zulia Investments, Smallcap World Fund, and Societe Generale have bought 99.1 lakh equity shares or 4.64 percent stake in the asset management company at the same average price.

Despite the stake sale by Abrdn, HDFC AMC shares topped the buying list in the NSE F&O segment, rising 11.23 percent to Rs 2,104.90.

Also read: Can HDFC AMC make it back to the MSCI index after Abrdn stake sale?

Among other deals, SBI Mutual Fund has bought 40.68 lakh shares or 5.08 percent equity stake in Krishna Institute of Medical Sciences (KIMS) at an average price of Rs 1,710 per share. The stake buy was worth Rs 695.7 crore. Foreign investor General Atlantic Singapore was the seller in this deal. KIMS shares ended with 1.2 percent gains at Rs 1,720.95.

Thyrocare Technologies was also in focus as foreign portfolio investor Arisaig Asia Consumer Fund has offloaded 26.72 lakh equity shares or 5.05 percent stake in the diagnostic and preventive care laboratories chain. These shares were sold at an average price of Rs 488.18 per share and were worth Rs 130.47 crore.

On the other side, ICICI Prudential Mutual Fund was a buyer for some of those shares, purchasing 22.53 lakh equity shares or a 4.25 percent stake in Thyrocare at an average price of Rs 488 per share, amounting to Rs 109.95 crore.

Thyrocare shares rallied nearly 7 percent to Rs 510.40.

Timken India shares fell 6.8 percent to Rs 3,249.70,  following a more than 10 percent stake sale by its promoter.

Promoter Timken Singapore has offloaded 76 lakh equity shares or a 10.1 percent stake in the ball and roller bearing manufacturing company at an average price of Rs 3,107.75 per share. The stake sale was worth Rs 2,361.89 crore.

However, Kuwait Investment Authority was a buyer for some shares in Timken India, purchasing 5.07 lakh shares or 0.67 percent stake at an average price of Rs 3,100.30 per share.

Archean Chemical Industries was also in focus. Europe-based financial services group Societe Generale has bought 6.42 lakh equity shares in the chemical manufacturing company at an average price of Rs 510 per share.

On the other side, Norges Bank on account of the Government Pension Fund Global sold 9.5 lakh shares or 0.77 percent stake in the company at an average price of Rs 510.87 per share. The stock corrected more than 4 percent to settle at Rs 531.

Jamna Auto Industries shares tanked 9.4 percent to Rs 105.35, despite a significant stake sale by a foreign investor.

Foreign portfolio investor Smallcap World Fund Inc has sold 59.05 lakh shares or 1.48 percent stake in the auto ancillary company at an average price of Rs 96.15 per share, which amounted to Rs 56.78 crore. As of March 2023, Smallcap World Fund had held 1.28 crore shares or 3.22 percent stake in the company.