Several stocks experienced significant trading activity on Friday, August 21, following large block deals worth ₹850 crore across multiple companies. According to reports from CNBC TV18, Amagi Media Labs saw the largest transaction with 1.05 crore shares (4.85% equity) changing hands at ₹560 per share, valued at ₹587 crore in the pre-market block deal window. The company also acquired an additional 2.7% stake in Shanthi Gears through these block deals. Latest data shows Qualcomm Incorporated also participated in the market activity, selling 75 lakh shares (1.28% stake) in Shadowfax Technologies for ₹183.8 crore at ₹245.13 per share.
The block deals generated mixed market reactions across the affected companies. As reported by CNBC TV18, Amagi Media Labs shares were trading 5.2% higher on Friday, having cooled from daily highs at ₹606.4, with the stock extending gains to 75% since listing. Tube Investments declined to lows of the day, trading 0.8% lower at ₹2,906.7, while Shadowfax Technologies recovered from intraday lows to trade 1.3% lower at ₹254.7 after initially declining as much as 5% following the block deal. Shanthi Gears shares surged as much as 18.6% on Friday following the transaction, reaching ₹458.75. Shadowfax shares ended at ₹255.40 on Friday, down 1.01% amid high trading volumes, though the stock has maintained an upward trajectory since mid-March, doubling from its offer price of ₹124 per share since listing on January 28, 2026.
The block deals resulted in notable changes to promoter holdings across the companies. According to CNBC TV18 reports, Amagi Media Labs promoter entities held 15% stake at the end of the June quarter, while public shareholders held 85%. Shanthi Gears saw promoter entities increase their stake by 2.7% through the block deals, with promoter entities holding 70% stake as of exchange data, while public shareholding comprised 30%. Tube Investments held 70.46% stake as of exchange data, while Shadowfax Technologies promoter entities held 17% stake at the end of the first quarter, with public shareholders holding 83%. In a separate transaction, Tube Investments of India acquired 20.64 lakh shares (2.69% stake) in Shanthi Gears for ₹77.49 crore at ₹375.30 per share.
The block deals generated varied investor reactions across the companies involved. As reported by CNBC TV18, Shanthi Gears shares surged as much as 18.6% on Friday following the transaction, while Tube Investments declined despite the promoter stake increase. The market response suggests investors viewed the block deals differently across the companies, with some seeing positive implications while others reacted negatively to the large-scale transactions. Shadowfax Technologies shares recovered most of their losses after initially declining as much as 5% to make an intraday low of ₹244.6. In the current quarter, multiple marquee investors have also pared their stakes in Shadowfax, including Newquest Asia Fund IV selling 2.13% stake on August 6 and Flipkart Internet offloading 5.48% stake on July 24.
