NewsOrders & DealsBNP Paribas Makes Strategic Moves: Rs 1,806 Crore Investment in Hero MotoCorp and IndusInd BankBNP Paribas Makes Strategic Moves: Rs 1,806 Crore Investment in Hero MotoCorp and IndusInd Bank
BNP Paribas acquired significant stakes in Hero MotoCorp (19.52 lakh shares for Rs 1,035 crore) and IndusInd Bank (1.06 crore shares for Rs 771 crore) through bulk deals. The French bank also divested from Max Healthcare, selling shares worth Rs 882 crore. In a separate transaction, Goldman Sachs sold over 11.51 lakh shares of Aether Industries for approximately Rs 85 crore.
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BNP Paribas, the French banking giant, has made significant moves in the Indian stock market, acquiring substantial stakes in two Nifty-listed companies while divesting from another. The transactions, executed through bulk deals, showcase the bank's strategic realignment of its Indian portfolio.
Hero MotoCorp Stake Acquisition
BNP Paribas has made a substantial investment in Hero MotoCorp, India's leading two-wheeler manufacturer. The bank purchased over 19.52 lakh shares at Rs 5,302.91 per share, amounting to a total investment of Rs 1,035.00 crore. This move signals BNP Paribas' confidence in the Indian automotive sector and Hero MotoCorp's market position.
IndusInd Bank Investment
In a series of transactions, BNP Paribas also acquired a significant stake in IndusInd Bank. The French bank executed multiple deals, resulting in a net purchase of approximately 1.06 crore shares at Rs 723.60 per share. The total investment in IndusInd Bank amounts to around Rs 771.00 crore, indicating BNP Paribas' positive outlook on the Indian banking sector.
Divestment from Max Healthcare
While building positions in Hero MotoCorp and IndusInd Bank, BNP Paribas simultaneously reduced its exposure to Max Healthcare Institute. The bank sold shares worth Rs 882.00 crore at Rs 1,111.66 per share, suggesting a strategic reallocation of its healthcare sector investments.
Transaction Details
| Company | Transaction Type | Shares (in lakhs) | Price per Share (Rs) | Total Value (Rs crore) |
|---|---|---|---|---|
| Hero MotoCorp | Purchase | 19.52 | 5,302.91 | 1,035.00 |
| IndusInd Bank | Purchase | 106.00 | 723.60 | 771.00 |
| Max Healthcare | Sale | 79.34 | 1,111.66 | 882.00 |
Other Market Movements
In a separate transaction, Goldman Sachs participated in bulk deals, selling over 11.51 lakh shares of Aether Industries. The sale was executed at Rs 735.01 per share, totaling approximately Rs 85.00 crore.
These significant market moves by global financial institutions like BNP Paribas and Goldman Sachs highlight the ongoing interest and dynamic nature of foreign investments in the Indian stock market. The transactions, particularly BNP Paribas' substantial investments in Hero MotoCorp and IndusInd Bank, may influence market sentiment and could potentially impact the stock prices of these companies in the short term.
Investors and market analysts will be closely watching how these strategic moves by BNP Paribas play out in the coming months, especially in terms of the performance of Hero MotoCorp and IndusInd Bank shares.
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