Five Stocks See ₹6,900-Cr Block Trades; Groww, Welspun Corp Fall

Five stocks saw large trades worth more than ₹6,900 crore on August 26, as a series of block transactions took place across the NSE and BSE in Billionbrains Garage Ventures (Groww), PhysicsWallah, Rubicon Research, Welspun Corp and Viyash Scientific.

The stocks, however, moved in different directions after the transactions, with PhysicsWallah and Rubicon Research gaining while Groww, Welspun Corp and Viyash Scientific traded lower.

Groww Sees Biggest Transaction

The biggest transaction by value was in Billionbrains Garage Ventures, the parent of Groww, where around 12.74 crore shares, representing 2.1% of the company's equity, changed hands for about ₹2,500 crore.

The transaction price works out to an estimated ₹196.20 per share. Groww shares were trading at ₹196.70 in early afternoon deals, down 3.1%.

The transaction followed a report on August 25 that existing investor Ribbit Capital had launched a block deal to sell a 1.6% stake in the Groww parent for about ₹1,914 crore. The reported floor price was ₹195 per share.

However, the quantity that changed hands on Wednesday was larger than the stake outlined in the reported deal terms, and the identities of the buyers and sellers were not immediately known.

PhysicsWallah Shares Gain

PhysicsWallah also saw a sizeable transaction, with 4.67 crore shares, or around 1.6% of its equity, changing hands through the NSE block deal window.

The transaction was valued at about ₹550 crore and executed at ₹117.72 per share.

Unlike Groww, PhysicsWallah shares rose following the deal. The stock was trading 4.3% higher at ₹126.60 in early afternoon trade, nearly 7.5% above the block transaction price.

Rubicon Research Sees Large Trades

Rubicon Research saw large trades across both exchanges.

On the NSE, 8.43 lakh shares changed hands for around ₹140 crore at ₹1,660 apiece. Separately, about 1.3 crore shares, equivalent to 7.85% of the company's equity, changed hands in a single pre-market block trade on the BSE, according to Bloomberg.

At a price similar to the NSE transaction, the BSE trade would be worth more than ₹2,150 crore. Rubicon Research shares were up 5.8% at ₹1,807 in early afternoon trade.

Welspun Corp, Viyash Scientific Decline

Welspun Corp saw 63 lakh shares, representing about 2.4% of its equity, change hands on the NSE for ₹1,433.44 crore at ₹2,275.30 per share.

The transaction came after a report that Managing Director and CEO Vipul Mathur was looking to sell 3 lakh shares and promoter group entity Welspun Investments and Commercials another 60 lakh shares.

The identities of the buyers and sellers in Wednesday's transaction were not immediately available. Welspun Corp shares were down 1.7% at ₹2,306.

Viyash Scientific was the sharpest decliner among the five stocks. Around 55.56 lakh shares, or 1.9% of the company's equity, changed hands on the NSE for ₹150 crore at ₹270 per share.

The stock was trading 5.7% lower at ₹262.60.

Taken together, the five large trades were worth more than ₹6,900 crore, including the reported 1.3-crore-share transaction in Rubicon Research on the BSE, based on an assumed price similar to its NSE block deal.