2 hrs ago
Texmaco Infrastructure Surges After Block Deal, Meesho Slips
Some large groups of shares were traded in special block deals.
Texmaco Infrastructure had more than 12.8 million shares traded this way.
The deal was worth about Rs 147.35 crore.
Afterward, Texmaco Infrastructure’s share price rose by 6.21 per cent.
Meesho also had a large block of shares traded.
Its share price fell by 1.06 per cent to Rs 237.62.
UBS said it expected stronger future revenue and profit growth for Meesho.
UBS also raised its Meesho target price from Rs 210 to Rs 260.
Texmaco Infrastructure saw 12,810,900 shares traded in a block deal at Rs 115.02 each.
The Texmaco Infrastructure transaction was valued at approximately Rs 147.35 crore.
Texmaco Infrastructure rose 6.21 per cent to reach Rs 122.17 per share.
Meesho saw block trading involving 3.86 per cent of its shares, equal to 0.8 per cent of outstanding shares.
Meesho shares fell 1.06 per cent to Rs 237.62, despite UBS raising several long-term growth estimates.
- Who
- Welspun Living, Texmaco Infrastructure, Meesho and UBS are mentioned.
- What
- Block trades affected the share prices of Texmaco Infrastructure and Meesho, while UBS revised its Meesho forecasts and target price.
- Where
- The market or exchange location is not specified in the report.
- When
- The report refers to Tuesday’s closing price and changes announced this week; no exact date is specified.
- Why
- The share-price movements followed block deals; UBS cited stronger expectations for Meesho’s revenue growth and margin improvement.
Key facts
- Texmaco shares traded
- 12,810,900 shares
- Texmaco block-deal price
- Rs 115.02 per share
- Texmaco deal value
- Rs 147.35 crore
- Texmaco intraday gain
- 6.21 per cent, reaching Rs 122.17
- Meesho block-traded stake
- 3.86 per cent of shares, or 0.8 per cent of total outstanding shares
- Meesho share-price move
- Down 1.06 per cent to Rs 237.62
- UBS Meesho target price
- Raised to Rs 260 from Rs 210
Sources
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