Shares of PVR ended marginally higher on Monday after a 3 percent drop on Friday. The stock continues to remain below the Rs 1,700 mark and has closed above that level only thrice over the last month.

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Dealing room sources tell CNBC-TV18 that a large block deal is likely to take place in the stock soon. The sources further said that private equity firms are looking to pare stake in the company.

Based on the latest shareholding pattern, Foreign Portfolio Investors hold close to 40 percent stake in the company. FPIs including Goldman Sachs to Vanguard own stake in PVR.

Second Day Of Losses

Benchmark indices failed to hold on to opening gains due to lack of follow-up buying and ended near the day's low. The Sensex fell over 300 points while the Nifty 50 ended below the 17,850 mark.

While financials continue to drag the market, insurance companies outperformed. Tech and Cement stocks outperformed on fresh buying interest.

Flows were muted at the FII desk. There will be no overnight cues as US markets will remain shut tonight due to a holiday.

Dealers believe that 17,800 remains a crucial support for the Nifty 50.

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

Bajaj Finserv: The stock ended lower for the second day in a row despite FIIs being buyers in the stock. Dealers said that FIIs have placed price limit orders in today's session. Price limit order is an order to buy or sell a stock with restriction on the maximum price to be paid or the minimum price to be received.

Power Grid: Shares ended a percent higher on Monday after the company won five electricity transmission projects through the competitive bidding route. Dealing rooms also indicated that FIIs were buyers in the stock and are expecting high delivery volumes in today's trading session.

Hindustan Aeronautics: The stock ended lower for the second day in a row after a seven percent surge on Thursday. Dealing rooms indicate that institutional investors have been sellers in the stock.

(Edited by : Hormaz Fatakia)

First Published:Feb 20, 2023 4:10 PM IST