Massive Block Deals Shake D-Street: Welspun Corp and PhysicsWallah See Trades Worth ₹1,983 Crore
The Indian stock market witnessed intense institutional and large-scale trading action on Wednesday as two prominent companies executed massive block deals totaling approximately ₹1,983 crore. High-volume transactions captured investor attention across exchanges, highlighting robust portfolio reshuffling and institutional activity involving infrastructure major Welspun Corp and edtech leader PhysicsWallah.
Welspun Corp Witnesses ₹1,433 Crore Block Deal Amid Q1 Earnings Dip
Welspun Corp recorded the larger of the two transactions through the stock market's block deal window. A substantial volume of 6.3 million shares changed hands in a single massive trade, valuing the transaction at an impressive ₹1,433 crore. The bulk deal was executed at a price of ₹2,275.30 per share.
The heavy trading activity follows the release of Welspun Corp's financial performance for the first quarter. For the June quarter, the infrastructure major reported a year-on-year contraction across key financial metrics. Net profit declined by 22 percent to ₹103 crore in the corresponding period of the previous year down to ₹81 crore. Revenue from operations slipped 8.4 percent to ₹774 crore, while EBITDA dropped 17.4 percent to ₹150 crore, with EBITDA margins compressing from 21.57 percent to 19.45 percent.
PhysicsWallah Executes ₹550 Crore Block Deal as Losses Narrow
In the edtech segment, PhysicsWallah (PW) witnessed significant high-volume action with a major block deal worth ₹550 crore. A total of 46 million shares were traded through the block deal window at an average price of ₹117.72 per share.
The transaction coincides with the release of the company's financial scorecard for the June quarter, which showed notable improvement in its bottom line. PhysicsWallah successfully narrowed its consolidated net loss to ₹77.5 crore, a substantial recovery compared to a net loss of ₹120 crore recorded in the same quarter last year. Concurrently, operational momentum remained strong, with revenue surging 24 percent year-on-year to reach ₹1,054 crore, up from ₹847.1 crore in the previous fiscal period, reflecting robust demand across its educational platforms.
