Shares of Pine Labs remained in focus on Thursday after a large pre-open block deal worth approximately Rs 356.86 crore was executed on the NSE.
According to exchange data, 2,47,81,985 shares of Pine Labs changed hands in a block transaction at Rs 144 per share during the pre-open session. The total deal value stood at around Rs 356.86 crore. Buyers and sellers involved in the transaction were not disclosed immediately.
Following the block deal, Pine Labs shares were trading at Rs 147.46, down 0.58% from the previous close of Rs 148.32. The stock touched an intraday high of Rs 153.95 and a low of Rs 146.10 during early trade.
The company’s market capitalisation stood at around Rs 16,965 crore. Average trading volume on the counter was around 54.4 lakh shares.
At the current market price, Pine Labs shares remain significantly below their 52-week high of Rs 284, though the stock has recovered from its 52-week low of Rs 143.34.
Large block deals are closely tracked by market participants as they often indicate stake changes by institutional investors, private equity funds, or early shareholders. However, no official disclosure regarding the identities of the participants in Thursday’s transaction was available at the time of writing.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.