Bulk deals | Smallcap World Fund offloads 2.46% stake in Dreamfolks Services, buys over Rs 75 crore shares in Aavas Financiers

Smallcap World Fund offloaded shares in Dreamfolks Services, and Shriram Finance, but bought in Aavas Financiers via block deals.

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Foreign portfolio investor Smallcap World Fund Inc has bought over Rs 75 crore worth shares in housing finance company Aavas Financiers, via open market transactions on September 6.

As per the bulk deals data available on exchanges, Smallcap World Fund purchased 4.54 lakh shares or 0.57 percent stake in Aavas, at an average price of Rs 1,654 per share. The stake buy amounted to Rs 75.11 crore. The stock was down third of a percent at Rs 1,632 on the NSE.

However, Smallcap World Fund sold 13.06 lakh shares, which is equivalent to 2.46 percent stake in Dreamfolks Services at an average price of Rs 507.55 crore, amounting to Rs 66.3 crore.

The fund held 5.08 percent stake in the airport services aggregator as of June 2023. The stock climbed 2.4 percent to Rs 513.95 on the NSE.

Further, Small Cap World Fund, and New World Fund offloaded Rs 884.43 crore worth shares in Shriram Finance.

Small Cap World Fund Inc has sold 20.26 lakh shares in the non-banking finance company at an average price of Rs 1,880.28 per share, amounting to Rs 380.96 crore, and New World Fund Inc offloaded 26.77 lakh shares at same average price of Rs 1,880.28 per share, amounting to Rs 503.47 crore.

They together sold 1.25 percent stake in Shriram Finance, while as of June 2023, New World Fund Inc held 1.95 percent stake in the company. The stock corrected 1 percent to Rs 18,92.6.

Solara Active Pharma Sciences was also in action on Wednesday, closing flat at Rs 366.10. Spiracca Ventures LLP has bought additional 7.36 lakh shares or 2.04 percent stake in the pharma company at an average price of Rs 367.46 per share. It held 1.69 percent shares in Solara as of June 2023.

However, promoter Karuna Business Solutions LLP was the seller in the block deal, against its 2.34 percent personal shareholding in the company as of June 2023.

Globus Spirits shares fell half a percent to Rs 912.60. Motilal Oswal Mutual Fund A/C Motilal Oswal Midcap 30 Fund has sold 2 lakh shares or 0.69 percent shareholding in the distilleries company at an average price of Rs 918.25 per share.

As of June 2023, Motilal Oswal Midcap Fund held 4.34 percent stake in the company, while Motilal Oswal Equity Opportunities Fund, and Motilal Oswal India Excellence Fund held 2.19 percent as of June 2023.

NRB Bearings shares also corrected on Wednesday, declining 1.2 percent to Rs 269.75 amid high volumes. Acacia Conservation Fund, and Acacia Institutional Partners LP offloaded 2 percent stake in the company.

Acacia Conservation Fund LP has sold 12.63 lakh shares or 1.3 percent stake in the bearing manufacturer at an average price of Rs 271.29 per share, and Acacia Institutional Partners LP sold 7 lakh shares or 0.72 percent stake at an average price of Rs 270.19 per share. They hold 2.13 percent and 1.98 percent shares respectively in the company as of June 2023.

JM Financial saw strong buying interest, rising 5.5 percent to Rs 93.9. Quant Mutual Fund has picked 0.99 percent equity stake or 94.59 lakh shares in the financial services company at an average price of Rs 91 per share, amounting to Rs 86.07 crore.

However, Valiant Mauritius Partners Offshore sold 76.47 lakh shares or 0.8 percent shareholding in the company at an average price fo Rs 91.02 per share, amounting to Rs 69.6 crore. Valiant Mauritius Partners held 1.28 percent stake in JM as of June 2023.

PG Electroplast shares corrected for third day in a row, falling 1.5 percent to Rs 1,792.9 on the NSE. Baring Private Equity India AIF has sold 1.95 lakh shares or 0.75 percent stake in the electronics manufacturing services company, at an average price of Rs 1,775.2 per share. The stake sale amounted to Rs 34.7 crore.