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Home Market Research Business

BNP Paribas acquires Rs 1,806 crore worth stakes in Nifty stocks Hero MotoCorp and IndusInd Bank via bulk deals

by TheAdviserMagazine
10 months ago
in Business
Reading Time: 2 mins read
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BNP Paribas acquires Rs 1,806 crore worth stakes in Nifty stocks Hero MotoCorp and IndusInd Bank via bulk deals
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BNP Paribas on Monday bought stakes in Nifty stocks Hero MotoCorp and IndusInd Bank via bulk deals. The French multinational bank acquired shares worth Rs 1,035 crore in the two-wheeler company and Rs 771 crore in the private sector lender. It spent a total of Rs 1,806 crore to buy the shares of the two companies.

The shares were bought via BNP Paribas Financial Markets, a division of BNP Paribas focused on providing capital markets and investment services to institutional clients, corporates, and governments. It is essentially the bank’s trading, investment banking, and market solutions arm.

In Hero MotoCorp, BNP bought over 19.52 lakh shares at a price of Rs 5,302.91 apiece, marginally lower from the Friday closing price of Rs 5,328. The stock today ended with gains of 0.33% on the NSE at Rs 5,345.50.

In IndusInd Bank, a couple of bulk deals were executed. BNP bought over 1.06 crore shares at a price of Rs 723.6 apiece in the one deal at deal size of Rs 772 crore. In another deal, it sold 7,969 equity shares at a price of Rs 728.15 apiece taking the deal size to 58 lakh. It was a net buyer at approximately Rs 771 crore.

BNP Paribas Financial Markets was also a net seller of shares in Max Healthcare Institute. It sold over 82.90 lakh shares in the company at a total consideration of Rs 922 crore. The selling price of the shares was Rs 1,111.66 apiece. It also bought over 3.53 lakh shares at a price of Rs 1,125.02 per share, taking the deal size to Rs 40 crore. On the net basis, it sold Rs 882 crore worth of shares.

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Also Read: Force Motors bulk deal: BNP Paribas sells shares worth Rs 122 crore in multibagger stockShares of Max Healthcare Institute today ended the day at Rs 1,105 on the NSE, declining by Rs 18.40 or 1.64% over the Friday closing price. In another bulk deal, Aether Industries shares were sold by Goldman Sachs via Goldman Sachs FDS Goldman Sachs India Eq Portfolio. It sold over 11.51lakh shares at a price of Rs 735.01 per share. The total deal size was approximately Rs 85 crore.

Shares of Aether Industries today closed at Rs 745.10, gaining Rs 10.40 or 1.42%.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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Tags: acquiresbankBNPbulkcroreDealsHeroIndusIndmotocorpNiftyParibasstakesstocksWorth
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