Electronic Mart stock soars after Rs 712.60 cr worth equity changes hands in block deal

Moneycontrol could not immediately identify the parties involved in the transaction.

Shares worth Rs 712.60 crore of Electronics Mart changed hands in a block deal on the exchanges on August 16. The transaction was executed at an average price of Rs 232, implying a near 1 percent premium from the previous closing price. Moneycontrol could not immediately identify the parties involved in the transaction.

The block deal also lifted shares of Electronic Mart 7.5 percent higher to Rs 247.50 on the NSE.

Not just that, it also triggered a spike in volumes in the counter as four crore shares changed hands on the exchanges so far, a meteoric jump from the one-month daily traded average of nine lakh shares.

(This is a developing story, please come back for more.)