Sansera Engineering share price hits 52-week high amid block deal buzz; ‘deploy buy on dips’, says analyst
₹1,267.05 apiece on the BSE, the stock touched an intraday high of ₹1,317, and an intraday low of ₹1264.80.“Recently, the Sansera Eng share price had given a breakout from a consolidation phase, and the follow-up move post that has been strong with high volumes. Thus, the overall trend remains positive, and one should keep a buy-on-dip approach.
The immediate supports are placed around ₹1,200, followed by 20 DEMA at ₹1,120," advised Ruchit Jain, Lead Research Analyst of 5paisa.Also Read: Block Deal Alert: Vodafone Plc Group to sell more shares in India's Indus Towers to raise up to $2 billionAccording to a CNBC-TV18 news report, the overall value of the deal is ₹750 crore, based on available data. Buyers and sellers in the deal are still unclear.
On Tuesday, CNBC-TV18 reported that Client Ebene and CVCIGP II Employee Ebene are expected to sell up to 6.25 million shares in the car component producer through these transactions. CNBC-TV18 cited sources stating that the transaction comprised up to 5.03 million shares (9.38% equity) from Client Ebene and up to 1.22 million shares (2.28% equity) from CVCIGP II Employee Ebene.
According to the news report, the shares were being auctioned at a price ranging from ₹1,151.2 to ₹1,211.75 each.Also Read: Delta Corp shares vault almost 15% on BSE; experts say watch out these key levelsAccording to ICICI Direct Research, the PE fund's interest in Sansera Engineering was around 29% at the time of listing. They sold approximately 16% of their share last fiscal year and want to sell the remaining 11.7% today."This will give the PE fund a full exit of their holdings in Sansera and removed the selling overhand on the stock.
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