Shares of VIP Industries surged sharply in early trade on Wednesday, December 24, following a large block deal transaction involving around 26% equity in the company.
At around 9:31 AM, VIP Industries was trading at Rs 392, up Rs 26.40 or 7.22%, compared with its previous close of Rs 365.60 on the NSE.
According to available market data, the block deal comprised two large transactions. In the first tranche, around 1.58 crore shares were exchanged at a price of Rs 388 per share, translating into a deal value of approximately Rs 614.77 crore. This was followed by another block transaction involving about 2.12 crore shares at Rs 372.95 per share, aggregating to nearly Rs 790.37 crore.
Together, the two block deals involved roughly 3.70 crore shares, representing close to 26% of VIP Industries’ equity, with the total transaction value estimated at over Rs 1,400 crore. Details regarding the buyers and sellers were not disclosed at the time of reporting.
The sharp rise in the stock came amid heightened trading activity, with investors reacting positively to the significant change in shareholding. Market participants closely tracked the stock as volumes spiked well above the daily average following the transaction.
VIP Industries, a leading luggage and travel accessories manufacturer in India, has seen increased interest from institutional investors in recent sessions, and the block deal added momentum to the stock during Wednesday’s trading session.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
