GMM Pfaudler plunges 18% after over 11 mn shares change hands in block deal

Shares of GMM Pfaudler plunged 18 per cent to Rs 1,576.10 on the National Stock Exchange (NSE) and Rs 1,575 on the BSE after over 11 million equity shares of the company changed hands on the bourses via block deals. 

Till 09:30 AM, a combined around 11.18 million shares, representing nearly 25 per cent of the total equity of the company, had changed hands on the NSE and BSE, data from the exchanges shows. The names of the buyers and sellers could not be ascertained immediately. By comparison, the Nifty 50 and the S&P BSE Sensex were down 0.2