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SBI Life Insurance falls 12% after huge block deals; recovers later

The stock dipped 12 per cent to Rs 510 in early morning trade on Friday with around 91.37 million equity shares representing 9.14 per cent equity of the company changed hands on the BSE.

SI Reporter  |  Mumbai 

Stock brokers react to the movement share prices on BSE Sensex in Mumbai on January 23. Photo: Kamlesh Pednekar
Stock brokers react to the movement share prices on BSE Sensex in Mumbai on January 23. Photo: Kamlesh Pednekar

Shares of dipped 12 per cent to Rs 510 on the in intra-day trade on Friday after more than 9 percentage point stake in the company changed hands through

At 09:15 am, around 91.37 million equity shares, representing 9.14 per cent equity of SBI Life Insurance, changed hands on the counter on the BSE, the exchange data shows.

The stock reported its sharpest intra-day fall since its listing on October 3, 2017, as compared to 14 per cent rise in the S&P

The name of the buyers and sellers were not ascertained immediately.

had a 22 per cent stake and State Bank of India 62 per cent holding in the Company, the shareholding pattern data shows.

The stock, however, recovered later and was trading over 4.50 per cent higher at Rs 605 apiece on at 10:08 am.

On the National Stock Exchange (NSE), the stock was trading 5 per cent lower at Rs 551, after falling 11 per cent to Rs 516 in early morning trade.

First Published: Fri, March 01 2019. 09:44 IST
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