Aditya Birla Capital shares gain after equity worth ₹819 crore changes hands in large trade

As many as 2.66 crore shares, or 1.02% equity, worth ₹819 crore of Aditya Birla Capital Ltd. changed hands at ₹308 per share in a block deal window on Tuesday, October 28. The stock has gained in early trade after the transaction.

On Monday, CNBC-TV18 reported, citing sources that Jomei Investments was to sell up to 2% stake in the company via block deals. The investor planned to offload around 53.2 million shares at a floor price of 304.55 apiece for over ₹1,600 crore. The was touted to be a cleanout trade.

At the end of the September quarter, Jomei Investments held 2.04% stake in the company.

The company is set to report its second quarter earnings on Thursday, October 30.

In the first quarter, its consolidated net profit increased 10% to 835 crore, while its revenue increased 9.6% to 9,502.6 crore.

Its total lending portfolio stood at ₹1.66 lakh crore, up 30% from the previous year and 5% sequentially. The mutual fund average assets under management (AUM) reached ₹4.03 lakh crore, up 14% from the previous year, while the life insurance individual first-year premium was up 23% at ₹795 crore. The gross written premium for health insurance was up 30% at ₹1,357 crore.

The company reported disbursements of 15,851 crore in the first quarter, up 18% from the previous year. AUM increased 22% to ₹1.31 lakh crore, profit after tax was up 11% at ₹925 crore, with return on assets at 2.25%.

Shares of Aditya Birla Capital are trading 1.7% higher in the early minutes of trade on Tuesday at ₹316.1. The stock is up 9% in the last one month, while its year-to-date gain stands at 76%.

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