Centrum Capital surges after huge block deal

The stock surged 18% after nearly 5% of co's total equity changed hands through block deal

Centrum Capital has surged 18% to Rs 31.40 on the BSE in early morning trade after nearly 5% of company's total equity changed hands through block deal on the counter.

At 09:21 am; around 20.5 million shares representing 4.92% of total equity of Centrum Capital changed hands via block deal on the BSE, the exchange data shows.

The name of the buyers and sellers were not ascertained immediately.

As on September 30, 2016, Nirmal Arora, the individual shareholders, held 9.85% or 41 million shares in Centrum Capital, the shareholding pattern data shows.

At 10:31 am; the stock was up 10% at Rs 29.25 as compared to 0.66% decline in the S&P BSE Sensex. About 21.49 million shares (5.16%) of the company changed hands against an average sub 25,000 shares that were traded daily in past two weeks on the BSE.

Centrum Capital is one of the leading merchant bankers in the country. The activities of Centrum Capital encompass the entire gamut of investing banking activities such as lead managing of public issues, private placements, loan syndication, corporate debt restructuring, mergers and acquisitions, corporate advisory services, infrastructure solutions, private equity investments etc., besides dealing in the primary and secondary markets of securities.