Tata Technologies stock took a sharp hit during early trade today after a massive block deal took place.
Written By
RAJ ANAND
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Around 2.32 crore shares were sold in one go, amounting to 5.75% of the company's total equity.
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RAJ ANAND
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The total value of this block deal was ₹1,582 crore, causing investor sentiment to shift immediately.
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RAJ ANAND
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Following the transaction, Tata Tech's stock slipped nearly 5%, reflecting the impact of large-volume selling.
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RAJ ANAND
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The deal comes with a 60-day lock-in period, during which the new holders can’t offload shares.
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RAJ ANAND
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Reports suggest TPG Climate may have been the seller, exiting its stake in the company.
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RAJ ANAND
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BofA Securities acted as the banker facilitating the entire block deal process.
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RAJ ANAND
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Meanwhile, Tata Tech posted a strong Q4, with profits rising 20% year-on-year to ₹189 crore.
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RAJ ANAND
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The company also announced a ₹8.35 final and ₹3.35 special dividend for FY25 shareholders.
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RAJ ANAND
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CEO Warren Harris stated that while macro conditions remain uncertain, margins will remain a top priority.
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RAJ ANAND
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