Eternal Block Deal News: A big block deal can take place in the Indian stock market on Monday, December 8, the first trading day of the week. According to information received from various media reports, a block deal is going to happen between Eternal, the parent company of Zomato and Blinkit.
Under which an institutional investor of the company can sell up to 0.5 percent of his stake. The size of this deal is expected to be around Rs 1500 crore. CNBC-TV18 has given this information quoting its sources. Let us know about this deal….
Estimate of big block deal
Due to this big block deal, the company’s shares may remain in focus on Monday i.e. today. The floor price per share for the block deal has been fixed at Rs 289.5. Which shows a discount of 0.77 percent from the previous day’s closing share price. Even in the month of November, 2 big block deals have been done in Eternal. In which about 90 lakh shares were bought and sold. Whose cost was around Rs 279.25 crore.
Company’s condition in stock market on Friday
In the last trading session of the week on Friday, December 5, Eternal’s shares closed down by 1.35 percent or Rs 4, trading at Rs 291.75 on NSE. Company shares started the day at Rs 295. The company shares had reached a high level of 299.70 during the trading day. Talking about the low level of the day, it was Rs 291.15.
Eternal’s business model
Eternal is a well-known tech company of India. The company provides food delivery, grocery and essential goods through Zomato and Blinkit. The company also provides logistics and tech services.
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