Geojit Financial shares jump on promoter, institutional buying

Core Viewpoint - Geojit Financial Services' shares have increased nearly 5% following additional stake purchases by promoter CJ George and domestic institutional investors, indicating positive market sentiment and potential growth in the company's valuation [1]. Group 1: Stock Performance - Geojit Financial Services' stock closed at ₹79 on the BSE, reflecting a gain of 4.58% [1]. - The stock has a 52-week high of ₹126.45 and a low of ₹60.80, showcasing significant volatility and potential for recovery [1]. Group 2: Stake Transactions - BNP Paribas SA sold 4.1 crore equity shares, which is 14.6% of Geojit's paid-up equity, for ₹278.8 crore at ₹68 per share [2]. - Institutional investors such as Bajaj Allianz Life Insurance Company and ICICI Prudential Life Insurance acquired significant stakes, with Bajaj Allianz purchasing 1.35 crore shares for ₹91.8 crore and ICICI Prudential acquiring 1.25 crore shares for ₹85 crore [3]. - Promoter CJ George acquired 40 lakh shares during the recent transactions, indicating confidence in the company's future [3]. Group 3: Historical Context - BNP Paribas first invested in Geojit in 2007 and increased its stake to 34% in 2009, but has since reduced its holding while participating in the company's rights issue in 2024 [4].