BNP Paribas, Societe Generale and a clutch of domestic mutual funds were buyers in the large block deal that took place in Amara Raja Batteries on Tuesday.

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Shares of Amara Raja Batteries dropped on Tuesday after over 16 percent of the company's total equity exchanged hands in a large trade. Shares worth over Rs 1,800 crore had exchanged hands at Rs 654, according to data available on the exchanges.

Based on the data available, Clarios ARBL Holding sold 2.4 crore shares of the company in the block deal.

Among the buyers, Societe Generale was the biggest buyer, who acquired 42 lakh shares of the company, while BNP Paribas acquired 25 lakh shares in the transaction.

Other buyers in the block deal include Bonanza Commodity Brokers, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund, Pinebridge India Equity Fund, and Tata AIA Life Insurance Company.

Amara Raja caters to automotive and industrial demand for power storage, and manufactures lead-acid batteries, with Maruti Suzuki, Tata Motors, and Bajaj Auto among its clients.

The company reported a 41 percent rise in its net profit during the March quarter, while revenue from operations increased by 11 percent.

Shares of Amara Raja Batteries are trading 1.9 percent higher at Rs 655. The stock is up 14 percent on a year-to-date basis.