Bulk Deals: Tata AIA Life picks Rs 145 cr shares of Zen Tech; India Acorn, Whiteoak, Ashoka India buy 4.9% stake in Onward Tech

Promoter Tara Dutt Atluri sold 15 lakh shares or 1.78 percent stake in Zen Technologies

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Bajaj Allianz Life Insurance Company, Kotak Mahindra Life Insurance Company, Morgan Stanley Asia Singapore Pte, Societe Generale, Franklin Templeton Mutual Fund and HDFC Mutual Fund bought more than 80 lakh equity shares, equivalent to 7.92 percent of paid-up equity in Fusion Micro Finance via open market transactions on December 14.

These institutional investors bought the shares for Rs 555.6 per share, valuing the total purchase at Rs 444.54 crore.

However, promoters Honey Rose Investment and Creation Investments Fusion, LLC sold 1,02,99,021 equity shares, equivalent to 10.2 percent of paid-up equity in the microfinance institution at the same price valued at Rs 572.2 crore.

Fusion Micro Finance shares rallied 6 percent to Rs 596.5 on the NSE.

Onward Technologies was also in action, rising nearly 20 percent to Rs 684.20. Institutional investors WhiteOak Capital Mutual Fund, White Oak India Equity Fund IV, Ashoka India Equity Investment Trust Plc and India Acorn Fund bought 10,99,700 equity shares or 4.9 percent of paid-up equity in the software company for Rs 563.75 per share valued at Rs 62 crore.

However, promoter entity Onward Software Technologies was the seller in this deal.

Senco Gold also saw buying interest, rising 2 percent to Rs 760.5 despite a stake sale by an alternate investment fund. As per the bulk deals data, Oman India Joint Investment Fund II, the alternate investment fund, sold 6 lakh equity shares or 0.77 percent stake in the gold jewellery company at Rs 746.19 per share.

The stake sale was valued at Rs 44.77 crore. Oman India held a 3.43 percent stake in Senco as of September 2023.

Zen Technologies shares climbed 2.75 percent to Rs 535 on the NSE after a big block deal. Tata AIA Life Insurance purchased 20 lakh equity shares, equivalent to a 2.38 percent stake in the company at Rs 725 per share. The total purchase is valued at Rs 145 crore.

However, promoter Tara Dutt Atluri sold 15 lakh shares or a 1.78 percent stake in Zen at the same price amounting to Rs 108.75 crore.