European financial services group Societe Generale on April 8 acquired a 1.18 percent equity stake in Kolkata-based private sector lender Bandhan Bank via open market transactions. The stock gained 2.6 percent to close at Rs 324.
Societe Generale bought more than 1.9 crore equity shares in Bandhan Bank as per the bulk deals data. These shares were bought at an average price of Rs 306.55 per share.
However, Housing Development Finance Corporation (HDFC), the biggest public shareholder in the bank before this deal, sold more than 4.96 crore equity shares (or 3.08 percent of the total paid-up equity) in the bank at an average price of Rs 306.61 per share.
HDFC had held a 9.89 percent stake in Bandhan Bank as of December 2021.
Earlier this week, in a BSE filing, the private sector lender said it recorded 16 percent year-on-year growth in loans and advances to Rs 1.01 lakh crore in March 2022 quarter and the sequential growth was 15 percent.
The total deposits during the quarter at Rs 96,331 crore grew by 24 percent YoY and 14 percent QoQ, including retail deposits that reported 21 percent YoY (4 percent QoQ) growth at Rs 74,441 crore for the quarter and bulk deposits registered a massive 32 percent YoY (68 percent QoQ) growth at Rs 21,890 crore, it added.
Collection efficiency for March 2022 was 96 percent, the bank said.
Among other deals, Nippon India Mutual Fund increased its shareholding in rating agency CARE Ratings . As of December 2021, Nippon Life India Trustee through Nippon India Multi Cap Fund had held a 1.52 percent stake in CARE.
On April 8, Nippon India MF bought 5,17,281 equity shares (1.74 percent of the total paid-up equity) in the company at an average price of Rs 539.79 per share.
However, investors, Phaeacian and Kinsale were sellers in the deal, cumulatively selling a 2.27 percent stake in CARE. The stock corrected 1.56 percent to Rs 542.90.
Phaeacian Accent International Value Fund has sold 3,73,745 equity shares in CARE at an average price of Rs 540.21 per share, and Multi Fund 10 Umbrella ICAV – Kinsale Navigator Fund offloaded 2,99,489 shares at an average price of Rs 540.21 per share as per bulk deals data. Uma Exports shares continued to lock in the 5 percent upper circuit for the second consecutive session after listing. Investors seem to be taking advantage by taking profits off the table.Purple Entertainment sold 2,07,583 equity shares at an […]
