Sona BLW is not having a very good on the bourses today; it opened 4% lower at Rs.512.05 and went down further by 5.25% to Rs.505.25. Volumes are up more than 15x.
The stock price fell on account of a large deal – some 3.5% stake was traded at Rs.507, which is 5% lower than yesterdays close.
In all likelihood, it was Sona’s promoter, Aureus Investment which sold the stake through a block deal. This also includes the green shoe option.
Aureus held a 33% stake in Sona BLW as at 31st March,2023.