Two Tata group companies — Tata Technologies and Trent — were in focus on Tuesday as block deals were seen on both counters. Around 3 per cent of equity changed hands in Tata Technologies while Trent saw 0.2 per cent equity being traded in the block deal window of the National Stock Exchange.
TPG Rise Climate SF sold over 1.2 crore shares or nearly 3 per cent equity in Tata Technologies for ₹1,230 crore, exchange data showed. It held 9 per cent stake in the company at the end of June. The stock ended 4.8 per cent higher at ₹1,099.05 on the BSE, on which the block deal had taken place.
Buyers in the stock included Copthall Mauritius Investment and Ghisallo Master Fund. Last week also Tata Technologies saw block deals with Alpha TC Holdings selling around 2.4 per cent stake for a little over ₹1,000 crore.
Retailer Trent saw 6.78 lakh shares change hands on the NSE for around ₹470 crore. The seller was Dodona Holdings, which held 4.53 per cent stake in the company at the end of June. The shares ended down 0.69 per cent at ₹6877.90.
The buyer was Siddharth Yog, founding partner of Xander Group, an emerging markets focused investment firm with assets of over $5 billion. Yog also operates several malls in India under Virtuous Retail. Shares of Trent have risen about a fourth over the last one-month period while those of Tata Tech have risen close to 10 per cent in the same time-frame.