Block deal data: Rs 55,000-crore transactions in March so far; investors cautious

Zee Business Managing Editor Anil Singhvi points out that while several promoters appear to be in the mood to offload stakes in their respective firms, funds seem to be inclined towards focusing on safer equity bets instead.

The series of back-to-back block deals are likely to further impact the overall liquidity situation in the market, he says.

Block deal data: Dalal Street has recorded block deals amounting to Rs 55,000 crore so far this month, setting March on course to emerge a fourth month with block deals of more than Rs 21,000 crore, according to provisional exchange data.

Month Block Deal Amount (cr)
March 2024* 50,000
Feb 2024 41,200
January 2024 21,000
Dec 2023 53,000
*Till today

According to Zee Business research, several promoters, private equity funds and global investment funds have pared stake in listed entities in March through block deals.

As of March 20, here’s a summary of the various block deals that have taken place in March 2024:

Company Block Deal Size (Cr) Equity Exchanged
ITC 17,500 3.5%
TCS 9,300 0.6%
Indigo 6,800 5.8%
Bharti Airtel 5,800 0.8%
Motherson 3,600 4.4%
Zomato 2,800 2.0%
M&M 1,800 0.75%

Among the block deals, promoters trimmed stakes in several companies, including TCS, M&M, Bharti Airtel, and Mahindra & Mahindra.

Also read Tata Sons offloads stake in TCS; stock falls

Company Promoter

TCS- Tata Sons

Indigo Rakesh Gangwal

M&M Prudential Management Services

Bharti Airtel Singapore telecommunications

Motherson Sumitomo Wiring Systems

Sundaram Clayton Venu Srinivasan

How market wizard Anil Singhvi views the series of block deals in March?

Zee Business Managing Editor Anil Singhvi points out that while several promoters appear to be in the mood to offload stakes in their respective firms, funds seem to be inclined towards focusing on safer equity bets instead.

The series of back-to-back block deals are likely to further impact the overall liquidity situation in the market, he says.