Trent Limited, Tata Group’s lifestyle company, witnessed a significant block deal of 8.18 lakh shares valued at ₹574.78 crore. As of the latest trading session, shares of Trent were trading 0.066% higher at ₹7,108.25.
The details regarding the official buyers and sellers involved in the transaction are not yet known.
Trent’s stock has been in the spotlight recently following the announcement by the NSE Indices Committee that the company will be included in the Nifty50 index during the September 2024 reshuffle. These changes will be effective from September 30, and the stock is expected to see a net inflow of $470 million, according to a report by Nuvama, a domestic brokerage firm.
The multibagger stock has surged by 130% this year and is up 242% in the past year.
In a related update, Tata Technologies also experienced a block deal, with 1.21 crore shares traded before market hours. Though details are not fully disclosed, the company saw a ₹1,218 crore block deal on Friday, representing 2.9% of its total equity. Despite a strong performance of 11.5% this year, Tata Technologies’ stock has dipped by 3% in the last six months.
