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BHEL Stock Drops 3% After ₹402 Crore Deal – Buyers Unknown, Discover More!

BHEL stock dropped over 3% on October 23 after 1.8 crore shares, worth ₹402 crore, changed hands at ₹227 apiece in a large deal. Buyers and sellers remain unidentified.
BHEL Stock Drops 3% After ₹402 Crore Deal – Buyers Unknown, Discover More!

BHEL stock fell over 3% on October 23, with the current share price at ₹224.00 INR, after a large deal saw 1.8 crore shares change hands at ₹227 apiece, amounting to ₹402 crore. The buyers and sellers of the transaction remain unknown.

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The stock of Bharat Heavy Electricals Ltd. (BHEL) was trading 3.14% lower at ₹225.50 on the NSE following the transaction. Despite a brief recovery, shares continued to trade 2.7% lower at ₹226.50 apiece by 2:20 pm on October 23. This marks a significant decline from its recent high of ₹335.

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Mutual funds in India slightly increased their stake in BHEL, rising from 5.36% at the end of June to 5.82% by September. Foreign Portfolio Investors (FPIs) also raised their stake, from 9.1% in June to 9.49% by September’s end.

On the other hand, Life Insurance Corporation of India (LIC) reduced its stake in BHEL, falling from 7.33% at the end of June to 6.72% in the latest quarter. This highlights mixed sentiment among institutional investors regarding BHEL’s stock performance.

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BHEL now has nearly 19.6 lakh small retail shareholders, up from 18.5 lakh in June. The shareholding of these small investors, with authorised capital up to ₹2 lakh, increased slightly from 10.72% to 10.87% in the last quarter.

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