Orbit Corporation has tanked 9% to Rs 19.80, extending its previous day’s 15% fall, after IFCI sold over three million shares in past one week through the open market.
State-run lender IFCI has offloaded 3.18 million shares representing 2.79% of realty firm for Rs 7.5 crore between May 19 and May 26, the NSE bulk deal data shows.
On May 26, 2014 IFCI sold 735,000 shares of Orbit Corporation at Rs 23.45 on the NSE. On May 23, it sold 1.09 million shares at Rs 25.25 on the NSE.
The stock opened at Rs 22 and touched a low of Rs 19.65 on NSE. A combined 1.47 million shares changed hands on the counter till 1050 hours on NSE and BSE.
State-run lender IFCI has offloaded 3.18 million shares representing 2.79% of realty firm for Rs 7.5 crore between May 19 and May 26, the NSE bulk deal data shows.
On May 26, 2014 IFCI sold 735,000 shares of Orbit Corporation at Rs 23.45 on the NSE. On May 23, it sold 1.09 million shares at Rs 25.25 on the NSE.
The stock opened at Rs 22 and touched a low of Rs 19.65 on NSE. A combined 1.47 million shares changed hands on the counter till 1050 hours on NSE and BSE.
