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
India has withdrawn the drug pricing authority's powers that allowed it to fix the prices of medicines not deemed essential, after its decision to impose price caps on more than 100 drugs in July triggered industry protests. Article