Shares of TD Power have surged as much as 8 percent on Friday, marking their biggest single-day jump since March this year after a large block deal took place in the stock.
3.76 crore shares or 23.8 percent of the total equity of TD Power exchanged hands at an average price of Rs 221 per share, according to data available on the exchanges.
Buyers and sellers of the transaction are not yet known.
Sources privy to the development had told CNBC Awaaz on Thursday that promoters and shareholders of TD Power Systems are likely to sell 24.2 percent stake worth Rs 800 crore through a block deal on Friday. The floor price of Rs 214 was supposed to be a 4 percent discount to Wednesday's closing price.
The company reported a 43 percent year-on-year jump in its consolidated net profit to Rs 35.35 crore in the March 2023 quarter.
TD Power Systems was also part of CNBC-TV18's dealing room chatter on Wednesday when Nimesh Shah had spoken about the street anticipating a large block deal to take place in the stock soon, citing dealing room sources.
Shares of TD Power are trading 7.7 percent higher at Rs 240.50 after making an intraday 52-week high of Rs 243.55.
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