Tata Tech Share Block Deal: A big block deal was seen in the shares of Tata Technologies on Friday, August 23. Private equity firm Alpha TC Holdings sold about 75 lakh shares of the company through this deal. These shares were sold in the range of Rs 1,010 to Rs 1,020. These shares were bought by domestic mutual funds and high-net-worth individuals (HNIs).
Tata Technologies Stock Trade: You must remember the IPO of Tata Technologies, which came in 2023. It received a huge number of bids, but only a few lucky people got its shares. The listing took place on November 30, 2023, for Rs 1200. It hit a high of Rs. 1400 on the same day. However, after that, the stock continued to fall. On August 23 (Friday), this stock closed at Rs. 1036.95. A few days ago, it hit a low of Rs. 970.10. A big news related to this stock is that a very big block deal has been done in it. In this deal, a company has sold 75 lakh shares. How and at what price were so many shares sold, and who bought them?
On August 23, Tata Technologies’ stock saw massive trade on the exchanges. In this, private equity firm Alpha TC Holdings sold more than 75 lakh shares in the range of Rs 1,010 to Rs 1,020 per share. CNBC Awaaz reported this information, citing sources. Domestic funds (DIIs) and high-net-worth individuals (HNIs) played the role of buyers in this trade. The report speculated that ICICI Securities played the role of brokerage for the deal.
big block deal after 9 months
This stake sale is happening almost 9 months after the listing of this Tata Group company last year. During the IPO of Tata Technologies in 2023, Tata Motors divested its 11.4 percent stake, while Alpha TC Holdings offloaded a 2.4 percent stake. According to exchange data, as of June 2024, Alpha TC held a 4.34 percent stake in the company.
CNBC-TV18 reported that about 1.2 crore shares or 2.9 percent of equity, valued at Rs 1,218.5 crore, were traded at Rs 1,019.8 per share. Shares of Tata Technologies closed at Rs 1,036.95, up 3.16 percent on the National Stock Exchange (NSE).
big jump in volume
The volume of Tata Technologies shares has increased by about 1555.6% today. This is a huge increase, and it means that a very large number of Tata Tech shares have been bought and sold today. The 20-day average volume till yesterday was 1.055 million, while today’s volume has been 17.49 million.
It is worth noting that the company reported a net profit of Rs 162.03 crore for the June quarter of FY25, down 15.4 percent from the same period last year. Revenue was Rs 1,268.97 crore, which was better than Rs 1,257.53 crore in the same period last year, but down 2.46 percent from the March quarter.