Indus Towers may see block deal, FIIs buy Birlasoft: Dealing Room Check
Benchmark indices ended near the day's high on Tuesday backed by strong institutional buying. The Nifty 50 recovered all of Monday's losses and gained over a percent.
Shares of Indus Towers ended 4.5% higher on Tuesday, snapping a five-day losing streak in the process. The stock has declined in six out of the last seven trading sessions.
Sources within the dealing rooms told CNBC-TV18 that a large block deal is likely to take place in the stock soon.
Despite today's gain, Indus Towers shares are still down 1.5% for the year 2023 so far.
A Strong Session
Benchmark indices ended near the day's high on Tuesday backed by strong institutional buying. The Nifty 50 recovered all of Monday's losses and gained over a percent.
Dealers also said that there was a small market at close basket buying seen across multiple stocks at a leading FII desk in today's session.
Broader markets also recovered in today's session, ending with gains of 1.5% led by a rally in Real Estate, PSUs and Metal stocks.
Besides Indus Towers, these stocks made it to the dealing room chatter today:
Birlasoft: Shares ended 4.4% higher on Tuesday, ending higher for the second day in a row. The stock has gained in three out of the last four trading sessions. Dealers said that FIIs were buyers in the stock and the street is anticipating a strong quarter from the company this time around.
Max Health: The stock ended 1.2% lower and has declined in four out of the last five sessions. Despite the consolidation, dealers said that a leading long-only FII is an active buyer in the stock.
J&K Bank: First signs of institutional buying is emerging in this stock according to the dealers. The street is also expecting higher delivery volumes for the quarter. The stock ended 3.2% higher on Tuesday and has gained in three out of the last four trading sessions.
(Edited by : Hormaz Fatakia)
First Published: Oct 10, 2023 3:45 PM IST
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