Rs 530 crore block deal: BNP Paribas, SBI MF, others buy stake in Delhivery

A flurry of institutional activity marked Tuesday’s block deal window in Delhivery, led by a significant purchase from BNP Paribas Financial Markets, as marquee domestic and global investors snapped up shares at Rs 442 apiece. The combined deal size stood at Rs 530 crore.

French multinational bank BNP Paribas through its affiliate purchased 11.40 lakh shares at a deal valued at Rs 50.38 crore.

SBI Mutual Fund and Nippon India Mutual Fund emerged as the largest buyers today, each acquiring 45.75 lakh shares worth Rs 202.2 crore. Other notable buyers included Edelweiss Mutual Fund, ICICI Prudential Life Insurance Company Limited, and AlphaMine Absolute Return Fund, each picking up 5.7 lakh shares valued at Rs 25.19 crore.

On the sell side, Nexus Ventures III Limited offloaded over 1.04 crore shares worth Rs 461.3 crore, while Nexus Opportunity Fund Limited sold 15.63 lakh shares amounting to Rs 69.08 crore.

According to BSE shareholding data, Nexus Ventures held a 4.49% stake in the company, representing 3.35 crore shares.

Shares of Delhivery ended today at Rs 460, up by Rs 18.55 or 4.20% over the last closing price of Rs 441.45.

The stock of this logistics company has been a market outperformer with returns of 71% over a one-year period. In contrast, benchmarks Nifty and the BSE Sensex delivered returns of 8% and 6%, respectively, according to Trendlyne data.Delhivery shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 426 and Rs 431, respectively, Trendlyne data revealed.

Also read: Goldman Sachs fund sells Cello World shares worth Rs 55 crore via bulk deals

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)