Laurus Labs Falls Over 4% On Report Of Block Deals Worth Rs 673 Crore
These block deals were worth Rs 673.08 crore.
Jun 29, 2020 / 04:34 PM IST
Shares of Laurus Labs fell more than 4 percent after a media report indicated that more than 12 percent equity changed hands on exchanges.
About 1.34 crore shares (representing 12.48 percent of total paid-up equity capital of Laurus) exchanged hands on the BSE as well as on NSE, reports CNBC-TV18.
The above mentioned block deals were worth Rs 673.08 crore.
The stock closed at Rs 517.90 on the BSE, down Rs 24.25 or 4.47 percent.
It traded with volumes of 1,64,41,668 shares, compared to its five day average of 65,697 shares, an increase of 24,926.67 percent on the BSE, while on the NSE, it traded with volumes of 1,46,89,205 shares, compared to its five day average of 10,06,154 shares, an increase of 1,359.94 percent.
Meanwhile, the pharma company had reported a 155.1 percent year-on-year growth in consolidated profit at Rs 110.15 crore and 32.1 percent rise in revenue at Rs 839.14 crore in quarter ended March 2020.