Mumbai/IBNS, Jan. 20 -- Shares of Aditya Birla Fashion and Retail Ltd. fell sharply by 9% following reports of a Rs 289-crore block deal, media reports said.

In terms of the Aditya Birla Lifestyle Brands segment, about 2.8% of outstanding equity was traded in the large transaction.

The buyers and sellers remain undisclosed, though analysts suggest it may have been a clean-out or institutional repositioning trade, rather than retail market activity.

What a block deal means:

A block deal is a large transaction usually conducted between institutional investors via a dedicated window. It allows significant trades to occur without directly impacting normal market trading. In this case, around 3.5% of total equity moved in one go, enough to...