BHEL’s share worth ₹402 Crore change hands

23 Oct 2024 , 01:06 PM

Shares of state-run Bharat Heavy Electricals Ltd. (BHEL) recovered from their session lows on Wednesday, October 23, after a significant transaction occurred in the stock. However, the rebound was short-lived.

The transaction involved the transfer of up to 1.8 Crore BHEL shares, accounting for 0.5% of the company’s outstanding equity.

The overall transaction value was ₹402 Crore, with shares selling for an average of ₹227 per share.

Buyers and sellers in the transaction are not publicly disclosed.

India’s mutual funds increased their holding in BHEL to 5.82% at the end of the September quarter, up from 5.36% in June.

However, India’s largest insurance provider, Life Insurance Corporation of India (LIC), reduced its investment during the quarter to 6.72%, down from 7.33% at the end of June. 

BHEL currently has around 19.6 lakh small retail shareholders, with allowed share capital up to ₹2 lakh. That figure exceeds the 18.5 lakh recorded in June. In percentage terms, the retail stake climbed slightly to 10.87% from 10.72% previous quarter.

Foreign Portfolio Investors have also upped their position in BHEL to 9.49% from 9.1% at the end of June.

At around 3.10 PM, BHEL was trading 3.39% lower at ₹224.90, against the previous close of ₹232.80 on NSE. The counter touched an intraday high and low of ₹235.40, and ₹223.35, respectively.

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