Bengaluru, June 6 -- The shares of this leading defence OEM manufacturer plunged by 11 percent on Friday after it sold an equity stake worth 7.4 percent via a block deal. In this article, we will look into the details of the deal.

With a market capitalization of Rs 10,441 crore, the shares of Azad Engineering Ltd are currently trading at Rs 1,617 per share, down by 22.3 percent from its 52-week high of Rs 2080 per share. Over the last six months, the stock has delivered a negative return of 8.28 percent.

About the deal According to sources, as many as 48 lakh shares exchanged hands worth Rs 780 crore on Friday, representing a 7.4 percent stake in the engineering company. The transaction is executed at a price of Rs 1,640 per share, whic...