Rs 621 cr shakeup: Quant MF sells HEG, Premji Invest offloads Medplus

In separate transactions on Friday, Quant Mutual Fund and a prominent investment firm Premji Invest adjusted their holdings in Indian companies.

Quant Mutual Fund sold a significant block of shares in Hindustan Electro Graphite (HEG), valued at approximately Rs 421 crore (around $54 million). As per the data, Quant MF offloaded 9.5 lakh shares of HEG (Hindustan Electro Graphites) on the BSE and disposed of 9.12 lakh scrips on the NSE. 

The sale took place through open market transactions, with the average price per share hovering around Rs 2,260. Interestingly, the large transaction had minimal impact on HEG's stock price, which even managed to close slightly higher on both the BSE and NSE stock exchanges.

Premji Invest, the investment arm of billionaire Azim Premji, opted to offload some of its holdings in Medplus Health Services. The firm sold 29.41 lakh shares (approximately 2.94 million shares) through an open market transaction, generating Rs 200 crore (around $25.8 million). This sale comes after Medplus's stock price experienced a decline of 2.88% on Friday, closing at Rs 670 per share.

Details of the buyers remains unknown

In both cases, the identities of the buyers for the HEG and Medplus shares remain undisclosed. These bulk deals typically involve institutional investors or large investment firms, and their motivations for buying or selling can be varied.

Market analysts will be scrutinizing these transactions to gauge potential investor sentiment towards the companies involved. While HEG's share price remained relatively stable, Premji Invest's sale of Medplus shares following a recent price drop could indicate a shift in their investment strategy for the healthcare company.