Block deals: Nykaa, Zomato, and CG Consumer Electricals see large trades; stock prices volatile

A host of block deals in multiple transactions have reportedly taken place in new-age stocks like Nykaa and Zomato, together with Crompton Greaves Consumer Electricals.

In the fashion-to-clothing e-retailer Nykaa, 58.6 lakh shares are reported to have changed hands in multiple deals. At around 2:28 pm, shares of the company traded 0.85 per cent higher at Rs 154.25, while at the day’s high, the stock scaled to Rs 156.25 per share.

Also, in the food delivery major Zomato, Zee Business reported that 1.01 crore shares worth Rs 158.43 crore changed hands in several transactions. Amid the deal buzz, the shares traded in the red, down by 2.67 per cent at Rs 156.95.

Furthermore, Crompton Greaves Consumer Electricals also saw a block deal of as many as 28 lakh shares in several trades. Amid a spurt in volume by over 10 times, the stock of the electrical equipment major was up 1 per cent at the writing of this copy at Rs 293.85 per share.

For these block deals, the buyers and sellers are not known.

Block deals are usually carried out in the early morning and afternoon window, and these can influence stock price movements drastically as they typically entail a large number of securities. As such deals are of interest to market participants, a higher degree of volatility as well as increased trading activity are seen on such counters.