BofA Securities Europe SA purchased 5.33 million shares of Zomato at Rs 316 each in a block deal worth Rs 168.67 crore on October 15. The transaction, involving shares sold by Goldman Sachs Bank Europe SE, drove Zomato's stock price up by 2.22 percent to Rs 323. This move underscores continued institutional interest in the food delivery sector.
Institutional investors were active on October 15, headlined by a significant block deal in Zomato. BofA Securities Europe SA acquired 5.33 million shares of the food delivery giant from Goldman Sachs Bank Europe SE. The transaction was executed at Rs 316 per share, totaling Rs 168.67 crore. Following the trade, Zomato's stock price on the National Stock Exchange closed at Rs 323, a gain of 2.22 percent.
Alongside this major transaction, several other block deals took place in the mid-cap and retail segments, offering a broader look at market sentiment. In the retail jewelry space, Aditya Kumar Halwasiya acquired a 0.52 percent stake in PC Jeweller. The deal involved the purchase of 5.1 crore shares at Rs 14.43 per share, amounting to a total investment of Rs 73.59 crore. Such accumulation by individual investors in the retail sector is often monitored for signs of long-term confidence.
Meanwhile, the textile sector saw activity as Pine Oak Global Fund increased its holding in Vardhman Polytex. The fund bought an additional 25 lakh shares, equivalent to a 0.49 percent stake, for Rs 1.38 crore. These shares were divested by Anupama Kothari, who previously held a 9.83 percent stake in the firm.
Not all institutional buying was met with positive stock price reactions. LCC Projects witnessed a capital infusion as Neomile Corporate Advisory and its founder, Kirtan Maneklal Rupareliya, bought a 1.4 percent stake in the firm for Rs 55.11 crore. Despite the purchase price of approximately Rs 135 per share, the stock faced selling pressure. LCC Projects shares fell 1.91 percent to close at Rs 134.87, which marks an all-time closing low for the stock and keeps it trading below its initial issue price of Rs 146. Investors may track these varying price reactions to understand how the market is responding to different institutional entry points.