Indian Stock Market Update: A tremendous rise is being seen in the Indian stock market. During this period, stocks of mid-cap and small-cap companies were trading at record highs. Shares of many government companies are also trading at lifetime high. In this boom, a lottery has been played for investors, which has also upset the promoters of the companies and the Government of India, which owns the government companies. According to estimates, everyone from the promoters of the companies to the Government of India is busy capitalizing on this boom.
In 2024, promoters of Indian companies listed on the stock exchange can raise up to Rs 2.5 lakh crore by selling shares. According to JP Morgan Chase, the promoters of listed companies are trying to take advantage of this tremendous boom in the stock market. According to Bloomberg data, Indian companies have raised Rs 83,000 crore by selling shares of listed companies in 2023, which is more than in 2022.
In recent times, big bulk and block deals have been seen in the stocks of many companies listed in the Indian stock market. Bulk deal was seen in Jio Financial Services when Motilal Oswal bought shares worth Rs 754 crore. Block deal was seen in Paytm’s stock. Deals have been seen in shares from Amber Enterprises to Uno Minda. Apart from this, a block deal has also been seen in the restaurant brand which was earlier known as Burger King.
A big block deal was also seen in the leading IT company Coforge when Baring Private Equity Asia sold 27 percent stake for Rs 8043 crore. Block deal has also been seen in Zomato’s stock. After the rise in share prices, everyone, be it private equity investors or promoters, is taking advantage of the rise in the stock market. Adani Group has also sold stocks of its companies in block deals.
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