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The Baseline
15 Dec 2017
Block deals today: ICICI Bank, India Cements, Bharti Airtel

80 lakh shares of  ICICI Bank changed hands in a block deal. ICICI Bank has been bullish about new insolvency and bankruptcy rules, but is negotiating with RBI for longer time to reach agreements with its debtors. 

India Cements  saw 40 lakh shares change hands in three blocks on NSE and BSE at share price of Rs 166.35-166.4. The stock is rising today on high volumes; this South Indian cement company will continue to face supply issues in raw material as long as political instability in Tamil Nadu continues. Capacity utilization in the south also remains low. 

Tech Mahindra saw 10 lakh shares change hands in a single block.

30 lakh shares of Bharti Airtel changed hands in a single block deal. The tariff wars between Airtel, Jio, Vodafone and other carriers have resumed in the build up to the new year, with each of these firms offering steep discounts on data in their plans, bundled with free calls. 

V-Guard Industries saw 31 lakh shares change hands in two block deals. The company has delivered strong quarterly results, but is now one of the most expensive stocks vis a vis earnings on the stock market. 

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