Nykaa and Ambuja Cements shares each surged by approximately 4% in recent trading sessions amid significant block deals. Nykaa’s stock reached a high of Rs 218.75 on BSE, while Ambuja Cements, part of the Adani group, advanced to Rs 659.70, indicating robust trading activity.
On the NSE, Ambuja Cements witnessed an extensive turnover with 6,79,56,000 shares traded, totaling Rs 4,250.65 crore. Meanwhile, Nykaa experienced a significant turnover of Rs 864.40 crore on BSE. These substantial turnovers underscore the active interest and market movements related to these stocks.
Harindarpal Singh, a pre-IPO investor in Nykaa, planned to sell a 1.4% stake in the company valued at Rs 809 crore. Singh, who founded The Caravel Group, held a 6.4% stake in FSN E-Commerce Ventures, Nykaa’s parent company, as of the end of June 2024.
In contrast, the Adani group intended to sell a 2.84% stake in Ambuja Cements worth Rs 4,200 crore. Holderind Investments, an Adani entity, aimed to offload 69.96 million shares at a starting price of Rs 600 each, which represented a 5.19% discount on the previous closing price.
Holderind Investments retained a substantial shareholding in Ambuja Cements, possessing 50.90% of the company at the end of the June quarter. In total, Adani group promoter entities collectively held a 70.33% stake in the cement manufacturer as of June 30.
