Shares of Ambuja Cements and Adani Power came under pressure on Thursday, falling over 1 percent after large block deals on the exchanges.
According to CNBC-TV18, about 2.8 crore shares, representing 1.2 percent equity of Ambuja Cements, changed hands at Rs 552 apiece. The stock later ended nearly 1 percent lower at Rs 560.55 on the NSE.
Adani Power slipped as much as 5.4 percent to an intraday low of Rs 600 following a block deal executed at a discount to the previous closing price. The stock recovered part of its losses and settled at Rs 626.4, down 1.27 percent.
Exchange data showed that more than 3.7 crore shares of Adani Power were traded in opening deals at an average price of Rs 608.35 per share, a discount of over 4 percent to Wednesday’s close of Rs 634.45.
Adani Power announced plans to invest Rs 21,000 crore to set up a 1.6 gigawatt ultra-supercritical thermal power project in Anuppur district of Madhya Pradesh. The company said it has secured a letter of award from MP Power Management Co for the supply of 1.6 GW and will establish two units of 800 MW each under the design, build, finance, own and operate model.
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