Tata Tech, Trent in focus amid large block deals

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Shares of Tata Group companies Trent and Tata Technologies were in focus on Tuesday after block deals were witnessed in the pre-market window. Trent’s shares rose 1% to a day’s high of Rs 6,998.15, while Tata Technologies’ shares fell 3.4% to the day’s low of Rs 1,013 on the BSE.

However, nearly an hour later, Trent shares were down 0.5%, while Tata Tech recovered its losses trading flat with a slightly negative bias.


Here are the brief details about the block deals:


Trent


Reportedly 6.8 lakh shares of the company worth Rs 470 crore changed hands in a pre-market block deal.

The shares changed hands at Rs 6,925/share, according to reports.The official buyers and sellers of the transaction are not currently known.The shares of Tata Group's lifestyle company were also in focus on Monday after the NSE Indices Committee announced the changes for the September 2024 rejig, which made way for the stock’s inclusion in the Nifty50 index.The new adjustments will take place on September 27 and the changes will be effective from September 30. Additionally, the stock is expected to experience a net inflow of $470 million, according to a report by the domestic brokerage firm Nuvama.

The multibagger stock is up by 130% in the current year so far, however, it has increased by 242% in the last one year.

Tata Technologies


According to reports, about 1.21 crore shares of Tata Tech were traded in the block deal window before the market hours.

Additional details and the official parties to the transaction are not currently known.

The company had also witnessed a large block deal on Friday worth Rs 1,218 crore, representing 2.9% of the company's total equity.

Nearly 1.2 crore shares had changed hands at an average price of Rs 1,019.8 per share,

The stock is up by 11.5% in the current year so far, however has decreased 3% in the last 6 months.

(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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