Bajaj Housing Finance stock price: Share tumbles 9% to hit 52-week low; here’s what triggered the fall
Bajaj Housing Finance shares tumbled on Tuesday, hitting 52-week low amid buzz of a block deal.The firm’s stock price tumbled 9% to reach Rs 94.90 on the BSE following reports of a large block deal in which the firm’s promoter, Bajaj Finance, is believed to have offloaded 2.35% equity stake, valued at around Rs 1,890 crore.The firm traded at Rs 97.77, down 6.48%, on the National Stock Exchange, at 11:30. On BSE too, the firm traded at a loss of 6.36%, at Rs 97.85.According to reports cited by ET, roughly 19.5 crore shares of the company were exchanged in the block deal at Rs 97 per share. Earlier speculations suggested that the floor price for the transaction was likely set at Rs 95 per share, implying a 9% discount to the…
