In listed companies Rs. 60,000 crore record block deal

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- Long-term optimism among investors about the country's economy: most block deals in stocks outside the index: observed favorable effect of ample amount of liquidity

MUMBAI: After five consecutive months of corrections, the Indian stock market has witnessed record-breaking block deals of large size in listed companies despite the pullback seen in the current month. According to an estimate, large block deals worth Rs 60,000 crore have been done in August, which is the largest ever in any calendar month.

Two of the biggest deals of 2023 have been spotted in the current month. In which one deal is for the sale of Rs 7684 crore shares by Hulst, while the other deal is related to the sale of Rs 7412 crore stake by the promoter group in Adani Power.

Apart from this, other deals include sale of Rs 2,802 crore in Interglobe Aviation, sale of Rs 2,037 crore stake in Paytm by Antfin and sale of Rs 1,124 crore stake in Zometa by Tiger Global.

Ample liquidity at home and buying by global institutions have led to large-scale deals. Long-term optimism among investors regarding India's economy has also been responsible for large-sized block deals. Most of the block deals were seen in stocks outside the index, an analyst said. Benchmark indices may have been weak but midcap and smallcap have seen improvement in the current month.

The undertone is being seen strong in the Indian stock market. Block deals worth more than Rs 50,000 crore were also done in June of the current year. Indian markets have matured and are showing interest from various types of investors.

Funds raised through sale of shares

Time

Funds (in Rs. Crores)

Jan. 23 _

7086

Feb. 23 _

15366

March 23 _

36062

April 23 _

7266

May 23 _

15 , 286

June 23 _

52 , 193

July 23 _

14 , 782

August 23 _

59 , 357

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