Shares of Ambuja Cements Ltd slipped over 2% on Wednesday following a large block deal on the exchanges. Around 2.8 crore shares, representing 1.2% of the company’s equity, changed hands at an average price of ₹552 per share.
The identities of the buyers and sellers involved in the transaction remain unknown.
At 1:15 PM, Ambuja Cements was trading at ₹555.65 apiece, down 1.98% or ₹11.20 from the previous close of ₹566.85. The stock hit an intraday low of ₹549.20, with a market capitalization of ₹1.22 lakh crore.
Ambuja Cements, part of the Adani Group, has been in focus in recent sessions amid heavy volumes and investor activity.
