Shivalik Bimetal sees ₹500cr block deal amid active market interest

The block sale in Shivalik Bimetal Control was achieved at a floor price of Rs 611 per share, reflecting a nearly 1% discount from the prior closing price.

Major Block Deal Transacted

On September 27, a significant block deal involving 81.8 lakh shares of Shivalik Bimetal Controls was executed, amounting to a transaction worth ₹500 crore.

The shares were traded at a floor price of ₹611 per share, which represents a slight discount of approximately 1% from the company’s previous closing price. This sizable transaction has drawn attention, though details regarding the buyers and sellers involved in the deal were not immediately available.

Market Reaction and Share Price Movement

Following the block deal, Shivalik Bimetal’s stock exhibited notable movement. On the same day, the company’s shares settled at ₹616.70 on the NSE. Despite the discounted floor price, the settlement price reflects the stock’s stability and continued investor confidence in the company’s growth potential.

Active Interest in Shivalik Bimetal

The ₹500 crore block deal highlights the growing market interest in Shivalik Bimetal Controls, a company that has steadily garnered attention due to its strong performance in the bimetal sector.

While the identities of the entities involved in the transaction remain undisclosed, the significant trading volume suggests that both institutional and large-scale investors are taking a keen interest in the company’s future prospects.

Shivalik Bimetal’s Position in the Market

Shivalik Bimetal Controls, a leading manufacturer of bimetal and thermostatic bimetal products, has been gaining traction in the market.

This large transaction further emphasizes its position as a company to watch in its sector. The market activity surrounding this block deal could potentially signal further movement in its share price in the coming days as investors continue to assess the company’s performance and outlook.

Overall, this block deal underscores the company’s growing importance in the market and could lead to increased investor attention moving forward.