Shares of Aditya Birla Capital Ltd were in the spotlight on Wednesday after more than 1% of the company changed hands in a block deal. About 2.6 crore Aditya Birla Capital shares, representing 1.08% of its stake, were traded in the exchange’s morning block trading window, according to data available on the National Stock Exchange (NSE) website.
Shares changed hands at an average price of Rs 158.95 per share, taking the total deal size to Rs 416.4 crore.
Reacting to the developments, shares of Aditya Birla Capital rose 1.6% in early trade on Wednesday to an intraday high of Rs 163 per share from a previous close of Rs 160.50.
Notably, shares have gained 11% in the last month and 38% over the past six months.
Last week, the company notified exchanges that its board of directors would meet on Thursday, May 11, to consider and approve its audited standalone and consolidated financial results for the quarter/year ended March 31, 2023.
Aditya Birla Capital’s consolidated profit after tax (PAT) rose 27% to Rs 530 crore in the last quarter ended December 2023, compared to Rs 416 crore a year earlier.
Consolidated revenue in Q3FY23 jumped 31% to Rs 7,699 crore from Rs 5,886 crore a year earlier. Aditya Birla Capital also announced its exit from the insurance brokerage business last month.
The company has announced the sale of its entire stake in subsidiary Aditya Birla Insurance Brokers Ltd to Samara Capital for an upfront payment of Rs 455 crore.