homemarket NewsUS based GQG Partners buy IDFC First Bank, HNI interest in Latent View: Dealing Room Check
US-based GQG Partners buy IDFC First Bank, HNI interest in Latent View: Dealing Room Check
The Nifty 50 also prevented a sixth straight weekly drop, which would have been the worst weekly losing streak in three years.
After falling as much as 5 percent in early trading, shares of IDFC First Bank recovered to end little changed on Friday.
4.5 percent of the lender's total equity had exchanged hands in a large transaction, as per data available on the exchanges.
According to bulk deals data on BSE, US-based boutique investment firm, GQG Partners is the buyer in this transaction.
New Series Starts On A High
Benchmark indices began the September series on a strong note, with the Nifty 50 posting its best single-day gain since June 30.
The Nifty 50 also prevented a sixth straight weekly drop, which would have been the worst weekly losing streak in three years.
PSU stocks were back in focus with the PSE index rallying 2.6 percent. Metal stocks rallied courtesy the China data and some fresh buying interest as well.
Besides IDFC First Bank, these stocks made it to the dealing room chatter:
Latent View Analytics: India's most subscribed IPO ended over 7 percent higher on Friday, posting its third straight day of gains. Dealers said that the stock gained on strong buy flows on the HNI desk and that an influential HNI was an active buyer in the stock. The street is also anticipating a corporate development to take place in the stock soon, according to the dealers.
EIH: Shares have now gained for four days in a row, ending nearly 9 percent higher on Friday. Dealers say that foreign investors were buyers in the stock and that large delivery volumes are likely in the stock today.
ACC: Shares of the cement manufacturer are consolidating off late and was also deleted from the MSCI index on Thursday. Dealers suggest that a leading domestic mutual fund is a contra buyer in the stock.a
(Edited by : Hormaz Fatakia)
First Published: Sept 1, 2023 4:10 PM IST
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