RHI Magnesita India Jumps After ₹826 Cr Block Deal Activity

RHI Magnesita India gained after an ₹825.88 crore block deal. Investors are tracking key technical levels at ₹323 support and ₹444 resistance. RHI Magnesita India (

) remained in focus on September 22, 2026, after a large block deal worth ₹825.88 crore led to strong trading activity and a sharp intraday rally. Dalmia Bharat Refractories sold 2.29 crore equity shares, representing an 11.1% stake in RHI Magnesita India, through a block deal at ₹360 per share. The transaction was part of its 12.54% shareholding as of June 2026. SBI Mutual Fund, Bandhan Mutual Fund, Nippon India Mutual Fund, and Clarus Capital 1 were among the reported buyers. On September 22, 2026, RHIM surged nearly 8% during the session before settling at ₹379.20, up 3.04% or ₹11.20. The company had a market capitalisation of approximately ₹7,836 crore at the close. Rationale: The sizeable block deal attracted investor attention and triggered strong price action during the session. However, the broader technical structure continues to reflect a pattern of lower highs and lower lows, suggesting that traders may watch whether the recent momentum develops into a sustained trend reversal. From a technical perspective, ₹323, the low recorded on March 30, 2026, remains a key support level. On the upside, ₹444, the high of July 2, 2026, is the major resistance level to monitor. Disclosure: I have no holding in the mentioned scrip. This content is shared solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell.