Shares of Sundram Fasteners Ltd. gained as much as 3% on Tuesday (August 13) after 33 lakh shares or 1.57% of the outstanding equity of the company changed hands during a pre-market block window.

The total transaction value is said to be worth ₹434 crore.

Shares changed hands at an average price of ₹1,318 per share, which is a discount of up to 11%, when compared to Monday’s closing price.

Official buyers and sellers in the transaction are yet to be determined.

As of the June quarter shareholding pattern, the promoter held a 48.51% stake in Sundram Fasteners.

Domestic Mutual Funds also hold 14.96% stake in the company.

Shares of Sundram Fasteners are currently trading 2.63% higher at ₹1,366. The stock has risen 10% so far in 2024.