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Large trade in Delhivery; CLSA upgrades Paytm: What kept dealers busy on Tuesday?

market | Nov 29, 2022 4:22 PM IST

Large trade in Delhivery; CLSA upgrades Paytm: What kept dealers busy on Tuesday?

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Among financials, who continue to be well bid, according to dealers, the focus has shifted to small private sector banks.

Shares of Delhivery ended 4.8 percent higher on Tuesday after 0.5 percent of its equity exchanged hands in a large trade. The stock has been one among the many new-age IPOs that are trading well below their IPO price.

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Sources within the dealing rooms tell CNBC-TV18 that a large Private Equity investor is the likely seller in Tuesday's transaction.
However, the stock ended higher in third out of the last four trading sessions.
Another Record Close
Benchmark indices extended Tuesday's gains but cooled off from the session's highs. Both S&P BSE Sensex and NSE Nifty 50 posted a record closing high.
Dealing rooms indicate that a leading long-only FII has been an active buyer in largecap stocks.
Among financials, who continue to be well bid, according to dealers, the focus has shifted to small private sector banks.
FMCG stocks were the outperformers on Tuesday with fresh buying seen from domestic funds.
Besides Delhivery, here are some other stocks that have been part of the dealing room chatter today:
Prism Johnson: Shares of the cement company had their best day in nearly 10 months after large block deal that took place in the stock. Dealers indicate that a large domestic fund is the seller in this transaction and this mostly is a DII to DII trade. The stock has now gained in three out of the last four trading sessions.
Paytm: Shares of the company ended 4.6 percent higher after CLSA upgraded the stock to buy from sell citing a favourable risk-reward after a 75 percent correction from its IPO price. The stock has also gained in two out of the last three trading sessions. Dealers are anticipating an important corporate development in the stock soon.
RBL Bank & Federal Bank: Shares of RBL Bank ended 1.5 percent higher and gained for the fourth straight day. On the other hand, shares of Federal Bank ended 1.1 percent lower on Tuesday, declining in three out of the last four trading sessions. Dealers believe that both RBL Bank and Federal Bank have witnessed strong buy flows on the FII desks as of late.
Note To Readers

Disclaimer: The stocks discussed in this article are based on unconfirmed reports from dealing rooms. It is advised to carry out your own due diligence before making any investment decision.

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