Campus Activewear block deal: 1.3% equity changes hands; stock climbs 11%

Shares of smallcap footwear major traded with gains of up to 10.57 per cent as nearly 1.3 per cent equity or 40.7 lakh shares changed hands in several transactions in the counter in the pre-open trade.

The block deal is carried out in a separate window as it involves a huge trade with the prime focus of preventing any risk.

Last at around 9:35 am, shares of the company traded higher by 11 per cent at Rs 271.85 per share.

The company's shares have been underperforming the broader Nifty index and in the past 1 year has declined by over 27 per cent as against Nifty's return of 24 per cent.

Campus Activewear in the December quarter posted total revenue of Rs 473.4 crore, while the  net profit reduced nearly halved on year to Rs 24.9 crore.

Campus Activewear is a smallcap counter with a m-cap of Rs 8059 crore. The company is an India-based sports and athleisure footwear company that is primarily engaged in the manufacturing, distribution and sales of sports and athleisure footwear products under CAMPUS brand name.