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The Economic Times

Veer Sharma

Avalon Tech shares fall 6% after Rs 883 crore block deal; 3 promoter entities likely sellers

Avalon Avalon Technologies Nomura Veer Sharma JV SEBI

Shares of EMS player Avalon Technologies dropped as much as 6% to their day’s low of Rs 2,171 on the BSE on Wednesday following a large block worth Rs 883 crore on the bourses.

Around 40.5 lakh shares, equivalent to 6.06% of Avalon Technologies’ total equity, changed hands in the block trade. The shares were transacted at an average price of Rs 2,181 apiece, totalling Rs 883 crore, according to available data.

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