Gujarat Pipavav Port dips after block deals

Gujarat Pipavav Port has dipped by nearly 4% to Rs 201, declining 5% from an intra-day high of Rs 211 on the BSE, in an otherwise firm market after a block deal on the counter.

A total of around 1.27 million shares, representing 0.26% of total equity of Gujarat Pipavav Port, have changed hands as against an average 119,000 shares that were traded daily in the past two weeks on the BSE.

The names of buyers and sellers are not immediately known.

On Monday, August 17, 2015, Credit Suisse (Singapore) had sold 6.65 million shares of Gujarat Pipavav Port at an average price of Rs 196.80 per share on the NSE.

Meanwhile, Kotak Mahindra (International) bought 6.5 million shares of the company at Rs 197 per share, the bulk deal data shows.

At 12:30 PM, the stock was down 3% at Rs 203 on the BSE compared to a 0.61% rise in the S&P BSE Sensex.

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