Future Capital Holdings is trading higher by 4% at Rs 137, bouncing back 7% from intra-day’s low of Rs 128 on back of huge block deal on the counter on the National Stock Exchange (NSE).
According to media reports as many as 25 million shares representing 38.6% of equity of the company have changed hands in the counter in five block deals at an average price of Rs 129.58 per share. Buyers, sellers of the transactions were not immediately known.
In a disclosure to the stock exchange, on May 14, Future Capital Holdings said that Future Group firm Pantaloon Retail India will transfer its 53.67% stake in Future Capital Holdings Ltd to its wholly-owned subsidiary Future Value Retail.
“The proposed transfer will be completed within 90 days starting May 18, 2012. Around 34 million shares would be transferred by Pantaloon Retail India to Future Value Retail at a weighted average market price of Rs 133.89 per share,” Future Capital Holdings said in a BSE filing.
Pantaloon Retail India on the other hand, is trading higher by 1% at Rs 133.50. The stock opened at Rs 152, hit a 52-week low of Rs 124 on the NSE.