Markets extended their rebound for a second straight session on supportive global cues and selective buying in heavyweight stocks, with banking shares driving the relief. IT stocks, however, stayed under pressure. Multiple firms drew attention ahead of earnings: Power Grid, Tata Steel, SAIL, Hindustan Copper, Cochin Shipyard, Premier Energies, Godfrey Phillips and ITC Hotels. Adani Enterprises saw a massive block trade, Tata Motors PV reported a steep profit drop, while JSW Steel and Jio Financial posted sharp financial and deal-linked moves.
A sudden surge in block trades is reigniting optimism for India’s equity capital markets after a weak start to 2026. May block trade proceeds hit Rs 200 billion, the highest so far this year, driven by major deals including stake sales at Adani Ports and Special Economic Zone and investment platform Groww. The rebound contrasts with lackluster IPO fundraising and lagging equity performance.
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Groww stock slid as much as 7% to an intraday low of ₹180.15 after reports said early investors could offload shares worth up to ₹4,750 crore via block deals. The move coincides with the expiry of its six-month post-IPO lock-in, freeing nearly 418.2 crore shares to trade. Despite the dip, the company recently posted sharp profit and revenue growth.
Lenskart’s six-month IPO lock-in expired, prompting existing backers to sell shares worth at least ₹3,861.1 crore through multiple block deals. NSE data shows sales of at least 8.15 crore shares at ₹473.4 each. The deals were executed about 3.7% below the stock’s BSE closing price, even as the shares ended the day slightly higher.
Major block deals on Monday pumped over Rs 7,400 crore into Adani Ports and Special Economic Zone, with Capital Group entities emerging as the key buyers. The purchases were reportedly made after acquiring stakes from Worldwide Emerging Market Holding Limited. Block trades also surfaced in Tata Motors and Siemens Energy India, though at smaller volumes.
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