Stock Market
Shock on Dalal Street! Aditya Birla Fashion plunges 9% after Rs 289-crore block deal
Mumbai/IBNS: Shares of Aditya Birla Fashion and Retail Ltd. fell sharply by 9% following reports of a Rs 289-crore block deal, media reports said.
Approximately 4.35 crore shares, or 3.57% of the company’s outstanding equity, changed hands at an average price of Rs 66.4 per share, according to CNBC TV18.
In terms of the Aditya Birla Lifestyle Brands segment, about 2.8% of outstanding equity was traded in the large transaction.
The buyers and sellers remain undisclosed, though analysts suggest it may have been a clean-out or institutional repositioning trade, rather than retail market activity.
The transaction added selling pressure to the stock, which had already been under pressure amid broader market weakness and ongoing restructuring in the group’s retail businesses.
What a block deal means:
A block deal is a large transaction usually conducted between institutional investors via a dedicated window. It allows significant trades to occur without directly impacting normal market trading. In this case, around 3.5% of total equity moved in one go, enough to influence market sentiment.
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