NewsOrders & DealsBofA Acquires ICICI Bank and Apollo Hospitals Shares in Rs 88 Crore Block DealsBofA Acquires ICICI Bank and Apollo Hospitals Shares in Rs 88 Crore Block Deals
Bank of America executed block deals, purchasing shares in ICICI Bank and Apollo Hospitals for approximately Rs 88 crore. Goldman Sachs was the seller in both transactions. BofA acquired 141,886 ICICI Bank shares at Rs 1,332 per share and 92,363 Apollo Hospitals shares at Rs 7,474 per share. The deals were made at slight discounts to the previous closing prices. ICICI Bank shares closed 0.28% higher, while Apollo Hospitals ended 1.41% lower on the day of the transaction. Over the past year, ICICI Bank has shown a 7% return, outperforming the Nifty and Sensex but underperforming the Nifty Bank index. Apollo Hospitals recorded a 1.5% return in the same period.
*this image is generated using AI for illustrative purposes only.
Bank of America (BofA) has executed significant block deals, acquiring shares in two prominent Nifty stocks: ICICI Bank and Apollo Hospitals. These transactions, valued at approximately Rs 88 crore, saw Goldman Sachs as the seller in both cases.
Transaction Details
| Stock | Shares Purchased | Price per Share | Total Value | Discount to Friday's Close |
|---|---|---|---|---|
| ICICI Bank | 141,886 | Rs 1,332.00 | Rs 19.00 crore | 0.80% |
| Apollo Hospitals | 92,363 | Rs 7,474.00 | Rs 69.00 crore | 2.00% |
Market Performance
The block deals had varying impacts on the stocks' performance:
- ICICI Bank shares closed 0.28% higher at Rs 1,346.80
- Apollo Hospitals ended 1.41% lower at Rs 7,534.00
ICICI Bank's Performance Context
ICICI Bank has shown mixed performance compared to key indices over the past year:
- ICICI Bank: 7.00% returns
- Nifty Bank: 12.00% returns
- Nifty: 6.00% returns
- Sensex: 5.00% returns
While ICICI Bank underperformed compared to the Nifty Bank index, it outpaced both the Nifty and Sensex.
Apollo Hospitals' Performance
Apollo Hospitals recorded a modest 1.50% return over the same one-year period.
These block deals highlight ongoing interest in India's banking and healthcare sectors, with major financial institutions making strategic moves in the market. The transactions, occurring at slight discounts to the previous closing prices, may reflect institutional positioning or portfolio adjustments.
Investors and market watchers will likely monitor these stocks closely in the coming days to assess any potential impact on their trading patterns or market sentiment.
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