Cipla stock extends losses post bulk deal; stock among top Nifty losers

15 Feb 2022 , 09:39 AM

Shares of Cipla extended their early morning losses and were among top Nifty losers on Tuesdays trade post bulk deal.

Around 2.48% of equity shares (amounting to 20 million shares) change hands in two large trades where details of the buyers and sellers are not immediately known.

According to the media reports, promoters of Cipla were to sell up to a 2.5% stake in block deals. Yusuf Hamied and Mustafa Hamied will offload the Cipla stake through a block deal under which the floor price has been fixed in the range of Rs904.8-916.7 per share. This translates to a discount of up to 5.25% to Monday’s closing price of Rs955 on NSE.

The stock is currently trading at Rs922.95 down by Rs32.3 or 3.38% from its previous closing of Rs955.25 on the BSE.

The scrip opened at Rs916.70 and has touched a high and low of Rs939.30 and Rs910.05 respectively.