On October 22, institutional and promoter activity dominated the market. Finavenue Growth Fund and the Hitesh Patel family increased their stakes in recently listed Ravita Engineering, while Gallantt Industry sold a 1.09% stake in Gallantt Ispat. Additionally, Larsen & Toubro acquired units in Capital Infra Trust, and activity continued in the Ola Electric rights issue.
The Indian stock market witnessed a wave of bulk deal activity on October 22, 2026, as institutional investors and promoter groups adjusted their holdings across various sectors. Among the notable movements was the activity in the recently listed Ravita Engineering Services, which attracted fresh institutional capital.
Institutional Interest in Ravita Engineering
Finavenue Growth Fund increased its exposure to Ravita Engineering Services, purchasing 3.66 lakh shares at an average price of Rs 112.58. This development follows the company’s recent initial public offering, which was valued at Rs 116.05 crore. In parallel, the Hitesh Patel family—Bhavna, Yash, and Yashvi—showed continued confidence in the firm, collectively acquiring a 4.55% stake at prices near the Rs 112 mark. Investors often monitor such buying patterns in newly listed companies as a sign of post-listing stability and long-term interest from significant shareholders.
Promoter Divestment at Gallantt Ispat
In the steel sector, Gallantt Ispat saw a major transaction as its promoter, Gallantt Industry, divested a 1.09% holding. The company offloaded 26.51 lakh shares to Suryalaxmi Infracon in a deal valued at Rs 149.83 crore. Following the disclosure of the stake sale, shares of Gallantt Ispat dipped 0.99% to close at Rs 548.80 as trading volumes saw an uptick. Promoter selling is frequently scrutinized by the market as it can impact short-term liquidity and investor sentiment.
Infrastructure and EV Sector Updates
Larsen & Toubro continued its focus on infrastructure assets, acquiring 66.44 lakh units of Capital Infra Trust in a deal worth Rs 50.22 crore. This transaction involved an exit by AK Capital Finance, which sold its 1.3% stake at a price of Rs 75.59 per unit. Infrastructure trusts like these are typically tracked by investors looking for exposure to operational infra projects with stable cash flows.
Meanwhile, the electric vehicle sector saw secondary market activity related to the ongoing Ola Electric Mobility rights issue. SVF II Ostrich (DE) LLC, an affiliate of SoftBank, sold 82.92 lakh rights equity shares for Rs 3.01 crore. The rights issue, which has been priced at Rs 27 per share, aims to raise approximately Rs 999.7 crore. This capital-raising phase comes at a time when the electric two-wheeler market is facing increased scrutiny regarding valuations and production capacity. Investors monitoring the rights issue may want to track the total subscription levels, as this often indicates the level of support from existing shareholders for the company's future growth plans.