Phoenix Mills tanks 8% as nearly 11% equity changes hands via block deal

Shares of The Phoenix Mills slumped 8.3 per cent to quote at Rs 665 on the BSE on Tuesday after nearly 1.65 crore shares, representing about 11 per cent of the company's equity, changed hands on the counter on the BSE till 9:20 am. 

By 9:40 am, a combined 2.44 crore shares had changed hands on the counter on NSE and BSE. The names of the buyers and sellers could not be ascertained immediately. Media reports, however, suggested that promoter group may have off-loaded part stake.

The real estate developer had on August 22 raised Rs 1,100 crore via its