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Minda Corporation dips after block deals

 

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters

 

  Minda Corporation has tanked nearly 11% to Rs 95.75 on the BSE after a more than 5% of total equity of the company changed hands via multiple block deals on the counter.

Around 10.95 million shares representing 5.23% of total equity of Minda Corporation changed hands on the BSE between 12:30 pm and 01:00 pm. The name of the buyers and sellers were not ascertained immediately.

As of June 30, 2016, Bhagwat Seva Trust held 10.85 million shares or 5.18% stake in the company, the shareholding patter data shows.

At 02:24 pm, the stock was down 8% at Rs 98.80 on the BSE, as compared to 1.11% fall in the S&P BSE Sensex. A combined 16.68 million shares changed hands on the counter on the BSE and NSE so far.