Shares of MTAR Tech ended 1 percent higher on Monday, extending Friday's gains when the stock ended another 1.3 percent higher. A large block deal, where 5 percent of the company's equity exchanged hands took place during today's trading session.

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Sources within the dealing rooms told CNBC-TV18 that the promoter entity is likely to be the seller in today's transaction.

As of the March quarter, MTAR's promoters held 46.63 percent stake in the company, down from 47.18 percent in December.

Positive Start To The Week

Benchmark indices ended higher on Monday but off the highest point of the session. The Nifty 50 index ended close to the mark of 18,600. Financials were the outperformers, while IT was a drag.

Flows were very selective at the FII desk today. While defence stocks and private banks were buzzing in today's session, Auto stocks were also well bid at the institutional desk.

Dealing rooms believe that 18,700 and 18,800 are resistance levels on the upside for the Nifty 50.

Besides MTAR Tech, here are some other stocks that have been part of the dealing room chatter today:

Minda Corp: Shares of the company ended lower on Monday after a 5.5 percent surge on Friday. The stock has oscillated between gains and losses over the last four trading sessions. Dealing rooms indicate that a leading sovereign fund has been an active buyer of the stock recently.

Bharti Airtel: The telecom operator has not seen consecutive days of gains and losses since the last eight trading sessions. Dealers suggest that strong buy flows were seen in the stock and foreign investors bid for it as well.

IIFL Finance: Shares ended little changed on Monday after gaining over 6 percent on Friday. Dealing rooms indicate that the stock is back on the radar of HNI investors and that selling pressure from a leading domestic insurance company is largely over.

(Edited by : Hormaz Fatakia)

First Published:Jun 5, 2023 3:49 PM IST