Why Did Genus Power Shares Crash Over 11% Today?
India, June 30 -- Big-ticket trades on Dalal Street often move fast and leave investors scrambling for clarity. One such transaction unfolded early Tuesday, triggering a sharp slide in a small-cap counter even as speculation swirled around who exactly was on either side of the table.
Block Deal Sparks Sharp Selloff
With a Market Capitalization of Rs.9,084 Crore, Shares of Genus Power Infrastructures fell as much as 11.4% to Rs282.10 from its previous closing price of Rs.318.45 on the NSE in early trade on Tuesday, June 30, after a large block deal hit the counter. Around 88 lakh shares, roughly 2.90% of the company's equity, changed hands in transactions worth approximately Rs267.5 crore, according to exchange data on block activity.
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