Smallcap World Fund on Wednesday bought 10 million shares of IIFL Finance NSE 2.26% at Rs 300 apiece through a bulk deal on the BSE.

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In another transaction, Hamblin Watsa Investment Counsel sold 12.2 million shares of IIFL Finance at Rs 300 per share through a bulk deal on the BSE.

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In Nakoda Group Industries, Jain Roshan and Panjwani Pradeep Omprakash sold 1,00,000 equity shares each at Rs 123.75 and 123.56 per share respectively. While Wessel Consultancy Private Limited bought 65,000 equity shares at Rs 123.75 per share on the NSE, as per the bulk deals data.

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Adhunik Residency Private Limited picked up 40,00,000 shares from Trust Capital Serv India Pvt Ltd in Shrem Invit at Rs 101 per share, similarly, Bharti Deepak Chaudhari bought 76,000 shares from Investino Venture in Spectrum Electric at Rs 51.6 apiece on the NSE, the bulk deals data showed.

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Hanumanta Comsec And Sons bought 1,25,000 shares and BM Traders sold 1,32,000 equity shares in Dhruv Consultancy Ser Ltd at the same price of Rs 67.65 per share on the NSE, the bulk deals data showed.

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Individual investors Kailash Kumar Agrawal bought 1,00,000 shares in GSS Infotech Limited at Rs 109.36 per share and Litty Thomas picked up 1,20,000 shares in McDowell Holdings Limited at Rs 149.5 per share on the NSE, the bulk deals portrayed.

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Vadodaria Rajendra Mahendrakumar sold 57,000 equity shares in Hindprakash Industry Ltd Rs 52.86 per share and Vistra Itcl India Limited after a brief break has again sold 4,00,000 shares in Walchandnagar Ind. Ltd at Rs 42.67 per share on the NSE, as per the bulk deals data.

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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.

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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.  

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