Shares of VIP Industries rallied sharply on Wednesday, December 24, rising over 7% in early trade, driven primarily by a large block deal involving around 26% equity in the company.
The stock was trading at Rs 392, up Rs 26.40 or 7.22%, compared with its previous close of Rs 365.60 on the NSE, as investors reacted to unusually heavy volumes and a significant change in shareholding.
The surge followed two large block transactions executed during the session. In the first leg, about 1.58 crore shares changed hands at Rs 388 per share, amounting to roughly Rs 614.77 crore. This was followed by a second block deal involving nearly 2.12 crore shares at Rs 372.95 per share, valued at approximately Rs 790.37 crore. Combined, these transactions involved close to 3.70 crore shares, representing about 26% of VIP Industries’ total equity, with the cumulative deal size exceeding Rs 1,400 crore.
While the identities of the buyers and sellers were not disclosed, such large block deals often attract market attention as they indicate a strategic reshuffling of ownership or entry/exit of large institutional investors. The sheer size of the transaction led to a spike in volumes, which supported the sharp upward move in the stock.
Market participants closely tracked the counter amid speculation around potential long-term ownership changes, even as no official clarification was available from the company at the time of reporting. The heightened activity around the block deal remained the key trigger behind VIP Industries’ strong performance during Wednesday’s session.
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