Stocks that saw big block deals this week: Stocks such as Jio Financial Services, Coforge, HDFC Bank, Manappuram Finance and Amber Enterprises were among stocks that saw huge block deals this week. Watch this Business Today Visual Story to know more.
Coforge: Promoter stake in the IT company has been falling since September quarter of 2019 (70.04 per cent). In the June quarter, promoters held 26.63 per cent stake against 30.16 per cent in March and 40.06 per cent in the December quarter.
Coforge shares: In the case of MSCI, given the stock's current low total market capitalisation, transitioning from the Small-cap to Standard Index might be challenging.
Earlier in May, Hulst BV had sold 3.5% stake in Coforge through the open market for Rs 887 crore. The private equity firm has been offloading stake in tranches in the company over the last 2-3 years
Under the block deal, Hulst BV will offload 1.62 crore shares and the deal value is estimated around Rs 7,400 crore. Hulst BV is owned by private equity firm Baring PE