Cohen's Lifesciences shares saw significant activity on the Indian stock market on Wednesday, February 18. Following a major block deal, the company's shares rose by up to 5%.

Stocks surge after block deal

Cohance Lifesciences Block Deal News: Cohance Lifesciences shares saw significant activity on the Indian stock market on Wednesday, February 18th. Following a major block deal, the company's shares rose by up to 5%. Approximately 7 million shares were transacted in this transaction.

This represents approximately 1.82 percent of the company's total equity. The total value of this block deal is estimated to be approximately ₹216.3 crore. Let's learn more about this block deal and the performance of the company's shares on the stock market...

The deal was worth Rs 216.3 crore.

This block deal involved approximately 7 million shares worth approximately ₹216.3 crore (approximately $2.16 billion). Despite this large transaction, the names of the buyer and seller have not been revealed. Nevertheless, the stock saw a surge following news of the deal, and this surge during trading has attracted investor attention. 

Company performance in the stock market

The company's shares rose sharply on the BSE on Wednesday. The stock closed at ₹324.10, up 5.33 percent, or ₹16.40. The intraday high was ₹341.95. The company's shares opened the day at ₹315.55. Its 52-week high is ₹1328.20, and its 52-week low is ₹303.50. 

The company has a market cap of ₹12,399 crore. The stock has declined approximately 63 percent over the past six months. In the past month, the stock has fallen approximately 19 percent. 

Promoters have a strong hold on the company.

The company's latest shareholding data reveals a strong promoter presence. Berhyanda Limited held a 57.49 percent stake at the end of the December quarter, while Jusmiral Holdings Limited held 33.34 percent. Mutual funds held 17.36 percent, and insurance companies held 3.94 percent.