Indo Tech Stock Hits Upper Circuit as IIFL Asset Management Pours Nearly 2% Stake via Block Deal
Institutional Buys Drive Surge in Power and Pharma Sectors
Indo Tech Transformers, a key manufacturer of power and distribution transformers, experienced significant buying interest following an institutional acquisition. IIFL Asset Management acquired nearly 2 percent equity stake in the company from its promoter through block deals conducted on June 29.The transaction involved IIFL Asset Management purchasing 2 lakh shares, representing a 1.88 percent stake, from promoter Shirdi Sai Electricals. The shares were exchanged at a price of ₹ 2,985 per share, valued at ₹ 59.7 crore.
The stock showed immediate positive reaction to the transaction and is noted to be holding at its 5 percent upper circuit limit in the National Stock Exchange (NSE). This level stands at ₹ 3,081.9, marking the highest closing price since January 20, 2025, amidst a consolidation breakout trend for the company.
Massive Buying interest Fuels Record Highs for Bliss GVS Pharma
The institutional purchasing interest was not limited to Indo Tech Transformers. There was also substantial buying activity noted in the pharmaceutical sector with Bliss GVS Pharma.Institutional investor Mateus acquired 11.5 lakh shares, representing a 1.08 percent stake, in the pharmaceutical firm from Arian Investment. This deal was executed for ₹ 56.35 crore, with the shares trading at ₹ 490 per share.
Amid high volumes on the National Stock Exchange, Bliss GVS Pharma saw its stock soar by 7.71 percent. The company finished at a record closing high of ₹ 529.9, extending an upward trend for the second consecutive session.
Stake Movement and Performance in Goodluck India
The tube and pipe manufacturer Goodluck India also attracted healthy buying interest despite what has been described as subdued market conditions. The stock rose by 5 percent to close at ₹ 1,474.6 amid large volumes on the NSE.SageOne - Flagship Growth OE Fund purchased an additional 2.5 lakh shares, securing a 0.75 percent stake in Goodluck India. This purchase was made for ₹ 35.5 crore at the price of ₹ 1,420 per share.
Concurrently, promoter Manish Garg sold 2.9 lakh shares, representing a 0.87 percent stake in the company. These shares were valued at ₹ 41.2 crore and traded at ₹ 1,420.81 per share. SageOne previously held a 2.46 percent stake in Goodluck as of March 2026.
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