UBS's Block Deals: A Major Share Sale Including Concord Biotech and IIFL Securities
UBS's Block Deals: Key Highlights
On Friday, UBS, a prominent Zurich-based financial institution, executed a substantial sell-off of shares across multiple stocks, totaling Rs 480 crore. This move was facilitated through block deals executed by UBS Principal Capital Asia Limited.
Stocks Involved in the Sale
- Concord Biotech - 740,159 shares sold at Rs 2,589.86, totaling Rs 192 crore.
- Five Star Business Finance - 1,580,163 shares sold at Rs 804.74, amounting to Rs 127 crore.
- IIFL Securities - 1,710,992 shares disposed of at Rs 309.84, valued at Rs 53 crore.
- Marksans Pharma - 3,401,630 shares sold for Rs 317.22 each, totaling Rs 108 crore.
Market Reactions
The shares from these block deals experienced notable market activity. For instance, Concord Biotech's shares peaked at a 15.13% increase, while Marksans Pharma hit a 19.51% surge post-sale.
UBS's strategic selling through these block deals showcases their agile response to fluctuating market conditions, greatly influencing the stocks in question. It remains to be seen how these transactions will shape the market outlook in the following weeks.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.