Timescan Logistics, Giriraj Civil Developers stocks witness action in bulk deals on Tuesday

At least a dozen companies shares witnessed change of hands in bulk deals during Tuesday’s session through open market transactions. Timescan Logistics and Giriraj Civil Developers were among others which saw maximum traction in bulk deals today. 

Bytes and Pixels Finsoft LLP, Hardik M Shah, and Lincoln P Coelho each bought 20,000, 1,00,000 and 40,000 equity shares in Timescan Logistics Ind at the same price of Rs 104.55 per share on the NSE, the bulk deals data showed. 

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Similarly, in Giriraj Civil Developers, Jitendra Raichand Mehta bought 19,200 equity shares at Rs 99.94 per share and Aryaman Capital Markets Limited sold 25,200 equity shares at Rs 99.71 per share on the NSE, the bulk deals data mentioned. 

Penny stocks such as Inventure Gro & Securities Ltd, Nitin Fire Protection, Ujaas Energy Limited, Mercator Limited, Silgo Retail Limited, and Vishwaraj Sugar Ind among others also appeared on the bulks deal data on Tuesday. 

A deal where the total quantity of shares bought or sold is greater than 0.5 per cent of the share capital of the company is called bulk deal. It can be transacted either through the normal trading window or through the block trading window. 

“Nifty started the day on a positive note but failed to carry the momentum throughout the session, Rupak De, Senior Technical Analyst at LKP Securities, said adding further that on the higher end price found resistance at 18,350 which resulted in a sharp fall towards 18,080.  

“On the daily chart, Nifty has formed a bearish engulfing pattern and a bearish harmonic pattern, the market analyst said.  

He further added, “Momentum oscillator RSI (14) has entered in a bearish crossover. On the higher end resistance is visible at 18350-18400; whereas on the lower end support is visible at 18000 and 17850.”