Synopsis: Cohance Lifesciences, Baazar Style Retail, and MIC Electronics are in focus after bulk and block deals worth over Rs 256 crore were executed. While Cohance saw renewed buying interest through a large block deal, Baazar Style Retail witnessed investor accumulation, and MIC Electronics experienced promoter stake selling, reflecting mixed ownership activity across counters.
Bulk and block deal activity brought fresh attention to select mid- and small-cap stocks. Cohance Lifesciences, Baazar Style Retail, and MIC Electronics saw significant stake exchanges during recent trading sessions. The transactions, involving promoter selling and investor buying, collectively amounted to over Rs 256 crore, influencing short-term price movements and investor sentiment across these counters.
Cohance Lifesciences Ltd
The company is a leading global pharmaceutical and fine chemical major in their NCE development endeavours, which operate from process research & development to late-stage clinical and commercial manufacturing. With a market cap of Rs 12,391 crore, the shares of this company are trading at Rs 324 and are trading at a PE of 40 compared to its industry PE of 28.
Cohance Lifesciences shares surged by over 8% after a high-volume block deal worth Rs 235.6 crore attracted investors once again. Approximately 7.7 million shares, or 2% of equity, were traded at an average price of Rs 306 on the NSE, which is a total transaction value of approximately Rs 235.6 crore. This is the second large transaction in the past week alone, following the recent sale of promoter stake. Even after the sharp intraday recovery, the stock is still under intense pressure, having fallen by nearly 75% in the past year, which indicates that the current surge is more of a block deal-driven phenomenon.
Baazar Style Retail Ltd
Baazar Style Retail is a value fashion retailer offering quality and affordable clothing and home goods. With a market cap of Rs 2,530 crore, the shares of this company are trading at Rs 339 and are trading at a PE of 99 compared to its industry PE of 29.
Investor Ekta Halwasiya acquired 4 lakh shares (0.53% stake) in Baazar Style Retail at Rs 328.76 per share. The transaction value is approximately Rs 13.15 crore, marking investor interest in the lifestyle retailer. The stake acquisition marks confidence in the company’s growth story and an enhancement in non-promoter shareholding participation.
MIC Electronics Ltd
MIC Electronics Ltd is in the business of LED products, medical & other appliances, and automobiles (EVs). With a market cap of Rs 1,000 crore, the shares of this company are trading at Rs 42 and are trading at a PE of 106 compared to its industry PE of 26.3.
Promoter entity R R K Enterprise sold 20 lakh shares (0.82% stake) in MIC Electronics at Rs 41 per share, amounting to Rs 8.2 crore for today’s transaction. Notably, the promoter had also offloaded another 20 lakh shares earlier in the week, taking the total stake sale over the past few days to 40 lakh shares, indicating continued promoter stake reduction.
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