India's Tata Motors, Ultratech shares slump briefly after block sales
MUMBAI Feb 1 (Reuters) - Tata Motors Ltd and Ultratech Cement Ltd shares briefly dropped as much as 10 percent each, before sharply cutting losses, after a series of shares were sold at lower prices, traders said.
Tata Motors shares were down 2.3 percent as of 0953 GMT after six separate block deals comprising a total 2.07 million shares took place at an average price of 274.92 rupees. The sales sent Tata's shares as low as 268.25 rupees.
Ultratech shares were down 1.7 percent after one block deal comprising 41,863 shares was made at an average price of 1,853.80 rupees. Shares fell as much as 1,712.35 rupees.
(Reporting by Mumbai markets team; Editing by Prateek Chatterjee)
- Tweet this
- Share this
- Digg this
- Canada's parliament attacked near where PM Harper was speaking
- Google launches new email service dubbed "Inbox"
- UPDATE 4-U.S. tightens Ebola monitoring for West African visitors
- UPDATE 2-Divided U.S. SEC adopts mortgage rule, decries lax lending
- Air strikes kill around 25 Islamic State fighters in Iraq - residents
India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth largest coal reserves, a source familiar with the matter said. Full Article