Two major companies saw their stock prices drop after large block deals took place. One company’s stock fell by 5.94%, while the other’s dropped by 3.24%. The block deals, which happened on December 3, 2024, involved key investors selling significant stakes in both companies. Despite the price drops, both companies reported strong growth in their revenues and profits compared to the same quarter last year.
Stock Price Movement:
In Tuesday’s trading session, Indegene Limited’s share was down by 5.94 percent from the previous close of Rs. 666.95. The stock opened at Rs. 633 and is currently trading at Rs. 627.30 with a high of Rs. 633 and a low of Rs. 617.20. The market capitalization now stands at approximately Rs. 15,009.34 crore.
Similarly, with a market capitalization of Rs. 16,630.22 crores, the shares of TBO Tek Limited were trading at Rs. 1,531.50 per equity share, down nearly around 3.24 percent from its previous day’s close price of Rs. 1582.80.
What is the news?
On December 3, 2024, a block deal saw 1.13 crore shares (4.7% of equity) of Indegene Limited valued at Rs. 707 crore change hands at Rs. 623 per share. Carlyle-backed CA Dawn Investments was reportedly selling a 2.9% stake at Rs. 615 per share, potentially raising Rs. 470 crore.
As of the September quarter, Nadathur Fareast Pte Ltd held the largest stake in Indegene with 22.03%, followed by CA Dawn Investments at 14.52%.
On the other end, TBO Tek’s block deal involving 64.34 lakh shares, representing 5.92% of the company’s equity, was executed on December 3. The shares were worth Rs. 951 crore and sold at Rs. 1,476 per share, a 6.6% discount from the previous session’s closing price.
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Financial Highlights:
Indegene Limited’s revenue has increased from Rs. 636 crore in Q2 FY24 to Rs. 687 crore in Q2 FY25, which has grown by 8.02 percent YOY. The net profit of Indegene India Limited has also grown by 22.67 percent, from Rs. 75 crore in Q2 FY24 to Rs. 92 crore in Q2 FY25.
Likewise, TBO Tek Limited has reported a significant rise in revenue, increasing from Rs. 352 crore in Q2 FY24 to Rs. 451 crore in Q2 FY25, marking a YOY growth of 28.13 percent. Additionally, the company’s net profit surged by 7.14 percent, jumping from Rs. 56 crore in Q2 FY24 to Rs. 60 crore in Q2 FY25.
Company Overview of Indegene:
Indegene Limited was founded in 1998 and is headquartered in Bangalore, India. The company provides specialized research and commercialization services to the biopharmaceutical and healthcare sectors.
The company offers a range of services, including pharmaceutical marketing, clinical trials, and health informatics, aimed at enhancing the effectiveness of healthcare solutions globally.
Company Overview of TBO Tek:
TBO Tek Limited was established in 2006 and operates a B2B travel distribution platform that connects buyers and suppliers in the travel industry. Formerly known as Tek Travels Private Limited, the company facilitates bookings for hotels, airlines, and other travel services, serving over 159,000 buyers across more than 100 countries.
Written By – Nikhil Naik
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