Matrimony extends slide as BNP Paribas sells shares

Matrimony.com lost 2.91% to Rs 800 at 10:45 IST on BSE, with the stock extending slide following a poor debut on the bourses and selling of bulk shares by BNP Paribas Arbitrage.

Meanwhile, the S&P BSE Sensex was down 190.90 points or 0.6% at 31,731.54.

On the BSE, 36,000 shares were traded on the counter. The stock had hit a high of Rs 825 and a low of Rs 784.10 so far during the day.

Shares of Matrimony.com had opened at Rs 985 on 21 September 2017, matching its issue price on debut. The stock settled at Rs 901.20 on BSE, a discount of 8.51% compared with the issue price of Rs 985.

Shares of Matrimony.com have fallen 11.22% in two trading sessions from its close of Rs 901.20 on 21 September 2017.

BNP Paribas Arbitrage sold 1.34 lakh shares of Matrimony.Com at Rs 957.47 per share in a bulk deal on the NSE on 21 September 2017. It sold 1.40 lakh shares at Rs 817.73 per share in a bulk deal on the NSE on 22 September 2017.

The initial public offer (IPO) of Matrimony.com had received strong response from the investors. The issue was subscribed 4.44 times.

Matrimony.com's consolidated net profit rose 53.25% to Rs 14.62 crore on 17.1% rose in total income to Rs 84.79 crore in Q1 June 2017 over Q1 June 2016.

Matrimony.com is the leading provider of online matchmaking services in India in terms of the average number of website pages viewed by unique visitors in June 2017. Company's brand, BharatMatrimony.com and other matchmaking brands such as CommunityMatrimony.com and EliteMatrimony.com are well- established in India.

Powered by Capital Market - Live News