Bulk deal: Micro Labs buys stake in Bal Pharma, Ipca purchased Lyka labs shares
- Micro Labs acquired 1,26,296 equity shares in Bal Pharma at Rs 92.57 per share
- Vedanta acquired 5,00,14,714 shares of the company
- HDFC Mutual Fund sold 5,23,324 equity shares in the Kirloskar Pneumatic
Micro Labs acquired 1,26,296 equity shares in Bal Pharma at Rs 92.57 per share, however, Kumat Vipul sold the same number of shares, at Rs 92.56 per share on the NSE. Micro Labs bought 2,73,704 equity shares in the said company at Rs 92.4 per share, however, Vipul Kumat sold the same number of shares at the same price, the bulk deals data showed.
Promoters Vedanta Netherlands Investments B.V. acquired 5,00,14,714 equity shares and Twin Star Holdings bought 8,78,72,748 equity shares in Vedanta at Rs 349.7 per share on the NSE, the bulk deals data showed.
HDFC Mutual Fund sold 5,23,324 equity shares in the Kirloskar Pneumatic at Rs 392 per share on the BSE, the bulk deals data showed.
Ipca Laboratories acquired 17,74,142 equity shares in Lyka Labs at Rs 126.11 per share, however, Dalal&Broacha Stock Broking sold 7,98,786 equity shares at Rs 128.45 and Amee Parikh offloaded 9,75,356 equity shares at Rs 124.2 per share on the BSE, the bulk deals data showed.
A bulk deal is one in which the total number of shares purchased or sold exceeds 0.5% of the company's share capital. A bulk deal can be completed using either the usual trading window or the block trading window. When a major FII, mutual fund, or HNI wishes to acquire a huge block of shares in a specific stock, they frequently choose to employ sliced trades throughout the day. This guarantees that businesses take full advantage of market volatility and are able to minimize their overall acquisition costs.
Similarly, in the event of bulk selling, the sliced strategy aids in obtaining a higher selling price. Bulk deals must be notified to the exchange by the broker who executes the trade. If a bulk deal (exceeding 0.5% of the share capital) is conducted through the block window, the trade must be notified to the exchange promptly. If the total buy or sale of a sliced order during the day exceeds 0.5% of the share capital, the bulk deal must be disclosed to the exchange within 1 hour after the closing of the trade.