Shares of Aditya Birla Capital Ltd were in focus on Wednesday after as over one percent of the company’s equity changed hands via block deal. Data available on the National Stock Exchange (NSE) website showed that around 2.6 crore shares of Aditya Birla Capital, translating into 1.08 percent of its equity, were bought and sold in the morning block deal window of the exchange.
The shares changed hands at an average price of Rs 158.95 apiece, taking the total deal size to Rs 416.4 crore.
Reacting to the development, shares of Aditya Birla Capital rose as much as 1.6 percent in early trade on Wednesday to hit an intraday high of Rs 163 apiece compared with its previous close of Rs 160.50.
Notably, the stock price has jumped 11 percent in the last one month and 38 percent in the last six months.
Last week, the company had informed exchanges that its board of directors will meet on Thursday, May 11, to consider and approve the audited standalone and consolidated financial results of the company for the quarter/year ended March 31, 2023.
In the previous quarter ended December 2023, Aditya Birla Capital had reported a 27 percent jump in consolidated profit after tax (PAT) to Rs 530 crore compared to Rs 416 crore in the year-ago period.
Consolidated revenue had jumped 31 percent to Rs 7,699 crore in Q3 FY23 from Rs 5,886 crore in the year-ago period.
Last month, Aditya Birla Capital had also announced that it was exiting the insurance broking business.
The company had announced sale of its entire stake in its subsidiary, Aditya Birla Insurance Brokers Ltd, to Samara Capital for an upfront payment of Rs 455 crore.
