Shares of Sagar Cement ended over 8 percent higher on Tuesday after 4.5 percent of the company's equity exchanged hands in a large block deal.

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Sources within the dealing rooms told CNBC-TV18 that a large domestic mutual fund is the likely seller in the deal. It is likely to be a clean out trade from that fund.

The stock gained for the second day in a row and it was the biggest single-day gain for the stock in 2023.

Seventh Day Of Gains

Benchmark indices gained for the seventh day in a row with the Sensex and the Nifty 50 closing at a one-month high. The index breached another crucial resistance of 17,650 on the upside.

Dealers said that flows are mixed at the FII desk with market at close basket buying at leading FII desk that took place today.

First signs of buying interest has emerged among financial names with the Nifty Bank index ending 1.3 percent higher on Tuesday. The index closed over 500 points higher.

Tech stocks were under pressure in today's session with the Nifty IT index ending 1.3 percent lower. All 10 stocks of the index ended lower ahead of TCS' March quarter earnings on Wednesday. Companies offering guidance for the next financial year holds the key.

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

Indus Towers: Shares ended 2 percent lower during Tuesday's trading session and have declined in three out of the last four trading sessions. Dealers indicate that the stock has been under pressure as FIIs have been sellers in this stock. They also anticipate high delivery volumes in the stock today.

Manappuram Finance: Shares ended higher for the third day in a row and close to their 52-week high. The stock has gained in seven out of the last eight trading sessions. Dealers indicate that the stock has been gaining on the back of buy flows. Morgan Stanley has also rated the stock as a tactical buy on the back of rise in gold prices.

Venus Pipes: Multiple block trades took place in the stock in today's session with over 2.8 percent of the company's equity changing hands. Dealing rooms mentioned that a leading HNI is likely to be the buyer in today's block deal. The stock has now gained in eight out of the last nine trading sessions.

(Edited by : Hormaz Fatakia)

First Published:Apr 11, 2023 4:09 PM IST