Mahindra CIE tanks 9% after block deal of 6.2% equity

At 09:15 AM; around 23.63 million equity shares representing 6.23 per cent of total equity of MCIE changed hands via block deal on the BSE.

Shares of Mahindra CIE Automotive (MCIE) dipped 9 per cent to Rs 357 on the BSE in Monday’s intra-day trade on profit booking after over 6 per cent of the total equity of auto components & equipments changed hands via block deal.

At 09:15 AM; around 23.63 million equity share representing 6.23 per cent of total equity of MCIE changed hands via block deal, the BSE data shows. The names of the buyers and sellers were not ascertained immediately.

As per media sources, Mahindra & Mahindra (M&M), one of the promoters of MCIE, was looking to sell 4.6