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Suzlon may raise funds, block deal likely in Manappuram: Stocks that kept dealers busy on Wednesday
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Suzlon may raise funds, block deal likely in Manappuram: Stocks that kept dealers busy on Wednesday
Jun 28, 2023 8:07 AM

Shares of Suzlon gained for the fourth day in a row, ending higher by nearly 5 percent. The stock has risen over 40 percent in the last one month.

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Sources within the dealing rooms told CNBC-TV18 that the company's management met some institutional investors recently and is likely to raise funds through a Qualified Institutional Placement (QIP).

The stock has more than doubled over the last 12 months, having gained over 130 percent.

Records Galore...Finally

The Nifty 50 finally scaled a record high after failing at multiple attempts in the past. The index not only crossed a record high, but also scaled the 19,000 mark on an intraday basis.

Dealers are suggesting that the focus is shifting back to the largecap names now that the index is done with its record high. Broader market outperformers are now taking a breather as there have been signs of profit booking in some names.

Power PSUs continue to be well bid for, according to dealers and that flows have been mixed but with a positive bias. The CPSE re-balancing and block deals in Adani stocks and Bikaji is likely to impact the flows number today.

Besides Suzlon, here are the stocks that made it to the Dealing Room Chatter:

Bikaji Foods: Shares ended 1.2 percent lower and have been oscillating between gains and losses over the last four trading sessions. The stock saw 3 percent equity exchange hands in a large trade on Wednesday. Dealing room sources say that the promoter or a Private Equity player is the likely seller in the transaction.

Manappuram Finance: The stock ended higher for the third day in a row and has been in the news over various regulatory issues. Dealers suggest that a large block deal is likely to take place in the stock, where a leading Private Equity player is likely to be the seller. The stock is up 8.2 percent on a year-to-date basis.

EPL: The stock ended at a 52-week high after gaining nearly 8 percent on Wednesday. Dealers indicate that FIIs have been buying the stock and that the company's management also met some institutional investors recently.

(Edited by : Hormaz Fatakia)

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