Shares of JB Chemicals & Pharmaceuticals declined sharply on Thursday, falling 6.68% to ₹1,594.65 on the NSE, following a large block deal involving 5.78% equity.
As per exchange data, around 90 lakh shares, equivalent to 5.78% of the company’s total equity, changed hands in block deals early in the session on March 27. The stock opened at ₹1,636.00 but quickly lost momentum, hitting a low of ₹1,576.70. The previous close was ₹1,708.75.
The sudden surge in volumes — over 1.01 crore shares traded — signaled strong institutional participation in the deal, though buyers and sellers were not immediately identified. The stock is now trading closer to its 52-week low of ₹1,433.60, well below the high of ₹2,030.00.
While the company has not yet made an official statement regarding the deal, the market reacted negatively to the large equity movement, typically seen as a sign of institutional exits or stake rebalancing.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions.
