M&M slumps after block deals

Reuters Market Eye - Shares in Mahindra and Mahindra Ltd fall after 11.82 million shares changed hands in twenty-four block deals on the BSE exchange on Thursday morning, according to Thomson Reuters data shows.

The block deals happened at an average price of 1,162.24 rupees a share, Thomson Reuters calculation shows. Shares are also pressured by the stock going ex-dividend on Thursday after earlier paying 14 rupees a share.

M&M stock was trading down 2.6 percent to 1189.50 rupees as of 10:04 a.m.

(Reporting by Abhishek Vishnoi)