The Nifty 500 index opened with significant trading activity, led by Bombay Burmah Trading Corporation which surged as much as 12% at the opening bell. According to reports from CNBC TV18, the stock traded at 115.05 times its 10-day average volume as more than 39 lakh shares changed hands within minutes of market opening. This volume spike stood out sharply against peers on the Nifty 500 index, despite the stock remaining down more than 14% over the past year and over 14% since the start of the year.
Trading activity on the index was primarily driven by block deals and stake sales. As reported by CNBC TV18, Welspun Corp shares rose as much as 5% before paring gains, after promoter-group entity Welspun Investments and Commercials, along with MD and CEO Vipul Mathur, together sold 63 lakh shares or 2.4% equity via a block deal worth ₹1,433 crore on the NSE. The stock stood 2% below its 52-week high of ₹2,437.30, with over 19 lakh shares traded at 0.51 times its 10-day average volume.
Devyani International shares climbed over 4% before paring gains, trading 26.5% below its 52-week high of ₹191 and nearly 65% away from its 52-week low of ₹91.55, with over 57 lakh shares traded at 1.31 times its 10-day average volume. According to CNBC TV18, Triveni Turbines shares rose over 3% before paring gains, trading 34% below its 52-week high of ₹787.60 and 37% away from its 52-week low of ₹428.35, with over 11 lakh shares traded at 2.19 times its 10-day average volume.
ICICI Prudential AMC shares fell over 4% after reports emerged that Prudential Corp Holdings planned to sell a 2% stake through a block deal worth ₹3,121 crore, with the offer price set between ₹2,998 and ₹3,158 per share. As reported by CNBC TV18, the stock traded 17% below its 52-week high of ₹3,611 and nearly 22% away from its 52-week low of ₹2,530, with over 28 lakh shares traded at 7.58 times its 10-day average volume. Tata Power Company shares fell up to 4% at market open, trading 33% below its 52-week high of ₹464.90 and barely 2% away from its 52-week low of ₹342.50.
