Shares of Azad Engineering Ltd fell 9.80% to ₹1,581.70 in early trade on Friday following a large block deal where 48 lakh shares, or approximately 7.4% of the company’s equity, changed hands. The transaction was executed at an average price of ₹1,640 per share, amounting to a total deal value of ₹780 crore.
The stock opened sharply lower from its previous close of ₹1,753.60, reacting to the sudden offloading of a significant equity chunk. Details regarding the buyer and seller remain undisclosed at this point.
This trade took place amid a generally weak market sentiment, with key indices like the Nifty 50 and Sensex also trading lower. The market will likely look for further clarity on the participants involved and any strategic implications of the transaction.
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