Shares of Premier Energies rose on Tuesday, extending gains for the second consecutive trading session, after institutional investors, including Nomura and Quant Mutual Fund, bought shares through block deals.
The stock climbed as much as 3.05% during intraday trade to Rs 1,015 apiece. At 9:49 a.m., the shares were trading 2.03% higher, compared with a 0.09% gain in the Nifty.
Data available on the NSE on Monday showed that promoters of Premier Energies sold nearly 2.4 crore shares at an average price of Rs 955 apiece through block and bulk deals. The transactions drew interest from domestic mutual funds, insurance firms and foreign institutional investors.
Institutional Buying
Among the key buyers, Quant Mutual Fund acquired 40.84 lakh shares, while Nomura India Investment Fund Mother Fund purchased 25 lakh shares at Rs 955 apiece.
Smallcap World Fund Inc bought 24.45 lakh shares, Edelweiss Mutual Fund acquired 20.94 lakh shares and The Beekeeper Capital purchased 14.66 lakh shares at the same price.
Canara Robeco Mutual Fund bought 14.14 lakh shares, while SBI Life Insurance Company and Tata Mutual Fund each acquired 13.09 lakh shares. Bandhan Mutual Fund purchased 11.62 lakh shares and Bajaj Finserv Mutual Fund bought 10.47 lakh shares.
HDFC Life Insurance Company acquired 9.94 lakh shares, while HDFC Mutual Fund and Kotak Mahindra Life Insurance Company each bought 5.23 lakh shares.
Other buyers included 360 One Mutual Fund, Abu Dhabi Investment Authority, Al Mehwar Commercial Investments L.L.C., BNP Paribas Funds India Equity, Public Sector Pension Investment Board and Reliance Nippon Life Insurance Company.
Promoter Sales
Among the sellers, Surenderpal Singh Saluja offloaded 1.57 crore shares at Rs 955 apiece.
Manjeet Kaur Saluja sold 50.47 lakh shares, while Jasveen Kaur Saluja divested 19.37 lakh shares. Charandeep Singh Saluja sold 13.09 lakh shares through the transactions.
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